| Summary: | This empirical study explores how Augmented and Virtual Reality (AR/VR) can revolutionize marketing, emphasizing the production of immersive customer experiences that boost engagement. The study highlights how the lack of a personal touch in online interactions discourages consumers from making a purchase while demonstrating how experiential technology can assist in breaking through this barrier. The study, which examines global trends, shows that the AR market is growing significantly and is expected to reach USD 65,323.4 million by 2028 at a 30.9% CAGR. Recognizing AR and VR applications, identifying integration challenges, and investigating upcoming technological advancements are some of the goals. The influence of augmented reality on consumer interaction, the function of AR-based apps in digital shopping, alongside the structured approach to consumer innovation are all highlighted in the literature review. Quantitative surveys, qualitative interviews with marketing experts, alongside ethical issues in AR/VR marketing are all part of the methodology. Results show that immersive technologies have a positive impact on customer engagement, and also that there is a significant relationship between the lengths of interaction alongside the intention to buy. Virtual clothes rooms, product demonstrations, self-help support, client feedback, and incorporated games are some of the applications that have been investigated. Regulatory concerns, content creation, installation costs, and other integration-related issues are mentioned as challenges. Future developments in virtual reality technology in addition to consumer acceptance are expected. The paper comes to the conclusion that, in spite of obstacles, AR/VR gives businesses a competitive edge by fostering stronger customer relationships and providing realistic experiences. © 2023 IEEE.
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