As brands and retailers look to translate real-life experiences into the online realm, beauty and fashion tech solutions provider Perfect Corp. is looking to augment them.
In its latest development, the artificial intelligence (AI) and augmented reality (AR) provider has teamed up with French green beauty brand Manucurist to bring its Green Flash nail colors to life through an AR virtual try-on experience.
By leveraging the power of AI-driven virtual try-on technology, customers visiting the Manucurist website now can virtually test out 50 different nail polish shades from the Green Flash collection. The experience aims to enable users to explore an array of colors, ranging from navy blue to poppy red, in real time on their own hands, all in the comfort of their own personal space.
“We are delighted to partner with Manucurist on the AR virtual try-on experience,” Alice Chang, Perfect Corp. founder and CEO, said at the time of the announcement. “The use of this technology is a real asset when purchasing nail colors online.”
AR technology offers retailers the opportunity to enrich the shopping experience for their customers through the incorporation of virtual elements into the real world. By using this technology, retailers can assist customers in visualizing products within their personal environments, allowing for a heightened and interactive shopping experience that is truly immersive.
Additionally, AR technology has the potential to boost customer engagement by providing entertaining and captivating experiences. Moreover, AR can assist retailers in crafting a more individualized and interactive shopping environment, fostering customer loyalty and minimizing return rates.
Apple and IKEA have already embraced AR technology to enable shoppers to envision how products would appear within their own homes, Modern Retail reported. Similarly, brands such as Ray-Ban and Nike have implemented virtual try-on technology. Virtual fitting rooms have experienced a surge in popularity in recent years.
Other notable brands and retailers include Prada and American Eagle who have leveraged Snap’s AR Enterprise Services’ (ARES’s) debut product called Shopping Suite.
Before the official launch to the public, Snap had reportedly engaged in collaborations with several retailers such as Princess Polly, Gobi Cashmere and Goodr sunglasses to experiment with features for ARES and Shopping Suite.
Snap has reported notable success stories from retailers using its AR technology. Goodr witnessed a 67% rise in conversion rates among mobile users who engaged with the AR Try-On feature. Similarly, Princess Polly experienced a 24% reduction in return rates for customers who using the Fit & Sizing recommendation tool. Recognizing the potential cost implications of implementing AI and AR tools, Snap aims to make the technology more accessible to retailers.
And just in time for back-to-school shopping, another retailer to team up with Snap to offer a virtual try-on experience is Ulta Beauty.
See also: Retailers Try on AR to Get More Consumers to Buy
Although Perfect Corp. is a big player in AR, it’s important to recognize that augmented reality technology still has room for improvement, including both its technological capabilities and widespread adoption.
At the time of the ARES announcement, the company said in a press release that more than 250 million users engage with AR on Snapchat every day. Snapchat’s core demographic is predominately Gen Z and while the adoption may be there, it has yet to become widespread.
CEO Mark Zuckerberg’s decision to rebrand the social network as Meta Platforms ignited a surge of investments and initiatives centered around harnessing the potential of AI-driven visual technology.
Meta’s resolute stance on the metaverse inevitably sparked a frenzy of hype that appeared to be inescapable. Brands and retailers felt compelled to join in, believing that it was imperative for them to be involved in this emerging landscape.
According to a report from TechCrunch, Bloomingdale’s incorporated a multibrand metaverse department store into its holiday marketing strategy in 2022, while Babylist, a registry service, looked to introduce a virtual showroom in November, allowing customers to explore products and add them to their registries.
However, despite retailers and brands predominantly using the metaverse to develop brand experiences and marketing initiatives, few have reported on its conversion rate.
Read more: Retailers Ditch Their Metaverse Strategy
Food for thought: Karen Webster from PYMNTS highlighted in March that the one thing we understand is that humans don’t need to abandon the physical world to reap the rewards of their creations. However, it may be necessary for us to reduce our excessive focus on the metaverse as the primary catalyst for a thriving connected economy.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
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