What are Phygital Products?

It is a love affair; the digital technology’s courtship of the tangible world is what has come to be referred as phygital. This marriage of sorts is a culmination of the material and the immaterial not as polar opposites but as sides of the same coin; yin and yang. As commerce suffered from the anxiety of change, phygital can be hailed as the philosophical golden mean.

It is core to a more authentic realization that consumer is the one swinging this cradle, and they value the physical experience and touch as much as patronage to convenience. Now that enough curiosity has been stirred, let’s go through the know-how of the phygital technology and the products that enable it.

What are phygital products? A bird’s-eye view.

Phygital products are a means to bring in an awe-inspiring experience to the consumer. This tryst is a subtle twist to the digital that everyone is accustomed to. These products retain the integrity of a traditional, in-person transaction while condensing the quintessential elements of augmented reality (AR), virtual reality (VR), mixed reality (MR), artificial intelligence (AI), beacons, QR codes, and NFC tags among others. Let’s discuss some of these phygital products in further detail. 

• Smart Mirrors: These are digitalized mirrors with AR that enable consumers in a retail space to immerse themselves in features like virtual try-ons, get item details, AI engrossed suggestions and recommendations.

• Cashier-less Retail Experiences: Many automated stores such as Amazon Go capitalize on the AI based computer vision technology to track purchases and charge customers' accounts, providing a seamless checkout experience. 

• Phygital Apps: Brick and mortar stores alone do not suffice to the modern consumer, the elephant in the room is how a retail business accommodates this change. The correct answer is monopoly over data and with a smartphone in every hand, it is more than possible. The applications are loaded with features that allow virtual trial of products like Lenskart, or AR in the case of Amazon to imagine the dimensions of a product. They also collect data consensually to up the game when it comes to personalization and recommendations. 

• Phygital Kiosks: These are interactive or digital kiosks with multipurpose usage whether to order food in a restaurant like McDonald’s, automating financial transactions or simply for the purpose of marketing.

• Internet of Things (IoT) Products: Much like mobile applications, IoT products are physical devices with sensors, software, and connectivity capabilities and can be controlled through another device by the user. They collect data for the sake of customization, drawing out a refined and unique experience for the consumer.

What are phygital products? The benefits.

Much like a chameleon, the retail forest demands the survival of the one who assimilates and adapts. The quick blending of phygital technology into the mix is a feather in the hat for any business out there.

The consumers revel in the pleasure of an experience that is authentic and innovative and the retailer has ease in managing inventory and keeping up with the times.

What are phygital products? A peek at the future.

Whatever the field of interest, all the heat is coming from the likes of AI, AR, or VR. Everyone is looking to utilize these resources at hand in the best possible way. The valleys of commerce as well seek favor from them in the form of phygital products.

The future prospects seem to be lush for the phygital products as rapid digitalization of businesses happens and the preferences of the consumers continue to evolve. It is not long before a phygital makeover takes the centerstage for all the up and coming and veteran businesses.