Liberty of London Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Liberty of London Case Solution

In the age of the social distancing; the augmented reality technology seems to be the powerful tool for the fashion industry players who seek to improve the customer engagement, thus translating into higher sales. Furthermore, the use of the innovation as a mean of augmented reality technology would be rising as per the estimation by Digi-Capital, according to which around 3.5 million people would get familiar with the augmented reality by 2022, which in turn equates to 44 percent of world’s population.(Bhageria, 2020)

In addition to this, the augmented reality technology is extensively used in a number of industries other than retail and fashion,for example: gaming industry, food industry,furniture industry, social media industry and so forth. The marker less augmented reality technology allows the location detection, and the Snap-chat's World Lenses is one of the considerable examples of the marker less augmented reality, which allows the users to generate live filters by pointing their cell phones at any scene or object. Furthermore, the filters of the Snap-chat are used just for fun, but there has been a significant rise in the number of brands that are accelerating their efforts to jump on the augmented reality bandwagon. In the gaming industry; the Pokemon Go is another example of augmented reality,which tends to perceive the GPS coordinates of players and displays Pokemon depending where the player is located. Moreover, in the furniture industry; the IKEA catalogue app most likely allows the users of the app to place the virtual products of the catalogue of furniture in their own rooms and space in the real time manner.

Moreover, the projection based augmented reality technology is another trend in today’s digitized environment and the common examples of which comprise of holograms that are usually seen in the sci-fi film/movies, such as: Star Wars. It tends to detect the interaction of user with the projection by its variations. Not only this, the famous ice cream brand “Ben & Jerry” has created a highly interactive augmented reality filter in Facebook to launch the new flavour of the ice cream, to make it shareable and en-training to the people and appealing them to buy the product. Additionally, the cosmetic brands have also created augmented reality filters on the Facebook, thus allowing the users to try on various lipstick shades. With the use of the augmented reality technology; the company would effectively increase the awareness of the product, increase its customer engagement and leverage the financial performance in the highly competitive and uncertain market environment.(Houston, 2020)

A critical evaluation of why this ‘human centric’ innovation is desirable for the current and or future Liberty consumer.

Amid the global crises; the use of technology and innovation is way of providing competitive advantage to the company. Taking under consideration the wider use of the augmented reality technology in almost every industry throughout the world; this human centric innovation would be viable for the long-term success of the company, because the experimentation opportunity is limited only by imaginations, which in turn has applied creativity in the fashion industry. Also, the use of the augmented reality would allow the firms to sell their products more attractively and indicatively.(Chauhan, 2020)

In-addition to this; the competition between the firms would be base-don innovation, capabilities and technological advancement, which would help them in leading the market over the industry peers. It is because of the reason that the global crises is not only changing the behaviour of the customers but is also changing how the fashion players think about their roadmap. It is also about bringing new and advanced opportunities to peek in the future of the fashion. In the wake of the new normal, following the social distancing; the idea of digital wardrobe provides a basis for giving an ability to purchase fashion. Also, the future of digital fashion is on the rise and is calling firms for incorporating the digital solutions in the business model and to stress over the significance of how the technology is shaping the future of the fashion industry. Hence, an increased use of the augmented reality and digital acceleration would help Liberty in attracting the new and retaining the existing customers by improving communication, collaboration and engagement, which is adversely affected by the pandemic consequences

A critical evaluation of the key aspects of technology or business model change required to deliver the innovation

The key aspects of the augmented reality technology that are required to deliver the innovation, include:a combination of the virtual and real world, accurate 3D registration of the real and virtual objects and interaction with customers in the real-time manner. Liberty must ensure that the augmented reality accessible by anyone, by making it available on operating system of android as well as iPhone. It could be easily downloaded on Playstore and Appstore by android users and iPhone users, respectively. This would help Liberty in providing an ease and convenience to both android users as well as the iPhone users and to serve a wider base of customers and generate enormous amount of profit in the market.

In addition to this, the company should make instructive and promotional videos for the app that would demonstrate how it could be used, which in turn would lower the queries and confusion among the customers regarding the AR initiative. Moreover, the company must provide step-by-step and clear instructions that tell users what they must do while using the app. Moreover, the company can add pictures, examples & in-app videos that would get the guidelines & information across. Not only this, the company can make the augmented reality content shareable & allow the customers to share their experiences at AR store, with their extensive network on the social media. Such could be pictures with the augmented objects in them as well as posting tweets with the branded hashtags.

Along with this, the company must provide 24/7 tech support to the customers in order to provide on-time assistance to the customers, in order to provide seamless and hassle-free shopping experience to them. Focusing on these strategies while providing AR shopping experience to customers is of paramount importance for the long term image and the reputation of the company, because Liberty is one of the leading and valuable iconic brands of the era. The pace of technology in shape of augmented reality app would help Liberty in leveraging its position in the market and to opt for the competitive advantage, which is extremely crucial in today’s uncertain market......................

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