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NEWSLETTER SEPTEMBER 2014

Augmented Reality Furniture

Augmented Reality for Digital Marketers - New Gartner Market Guide

Gartner, an independent provider of research and analysis on the information technology industry, recently published a new Augmented Reality Vendor Market Guide. Defining the market as a category of technologies which “…enriches the user’s interaction with the physical, real-world environment through descriptive text, graphics, images, audio, video and other value-added digital information” the guide analyses the markets and several key vendors, making recommendations on engaging vendors and taking advantage of the augmented reality technologies to "educate buyers faster and more effectively".

VividWorks is the only furniture industry augmented reality solution provider selected into the Gartner market guide.

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Vividworks Augmented Reality

Enable Interior Designer Sales Channel

Interior designers and decorators influence the purchasing decisions in a large number of commercial, residential, and hospitality spaces. Started after the high interest levels and need expressed by these professionals, the interior designer and decorator optimized VividPlatform version is now in its final beta-testing phases with a number of interior designers in Europe, USA, and Australia.

Similar to our retailer, iPad and Web-applications the application enables these professionals to quickly create designs - select items, colours, options, and arrangements - and share those with their customers in real-time or online, replacing the old mood-boards and sketches as means of designing and helping the customers to see the final result. In addition to the standard library of interior items, the application also has the ability for the designers to add products from their favourite retailers and manufacturers to their own design library, enabling them to use real products, with real measurements, in their designs. From the retailers' and manufacturers' point of view this creates an effective additional sales channel and creates additional value for the VividPlatform investment.

The interior designer and deco app will launch in the App store Q4'2014.

Return of Investment from Virtual Reality and Augmented Reality

ROI of Visualisation: Customers Result

VividWorks recently completed a study on the impact the VividPlatform augmented and virtual reality solutions have on the consumer path to purchase and on the businesses bottom-line. According to the results of the study which was based on consumer interviews as well as measured and client estimated business performance, enabling consumers to visualize products as part of their own homes:

Increases Traffic 40%

  • Depending on promotion increase in traffic 20%-40%; Up to 600% when include in ATL advertising.
  • Within 6months over 10% of customer using the application; 40% using application within year.

Improves Engagement 10x

  • Consumers evaluate products up to 21minutes on web-site.
  • Avg. Time on site 2:52 => 11:49
  • Avg. ”Page views" 5.71 => 84.96
  • Avg. Returning visitors 15.5% => 52.4%
    (same purchase cycle)

Increases Conversion to 59%

  • Reduced average 4.6 store visits to 1.7 visits before purchase.
  • Increases the close-ratio from 24% to 59% for visualisation users.
  • 2x higher first-visit close-ratio
  • 2x higher percentage of be-backers
  • 40% of consumers already prepared before visiting store

15% Sales Increase

  • Purchase time reduced 50%.
  • 3.5%-5% increase in sales in the first 6months *
  • 10.3%-14.7% sales increase in the following year *
  • Average 23.5% increase in order value.