What is the meaning of Phygital?

Artificial Intelligence and Metaverse are expanding at a tremendous rate in all spheres and industries. The digitalisation or the digital transformation has already taken strong roots in the general itinerary of everyday lives.

To indicate the organic integration of these growing digital elements with the tangible, material world, “phygital”, a portmanteau word is taking the retail world by storm. No holds barred, let us go into the depths of the meaning behind the phygital phenomenon.

On the face, the word phygital is simple digital plus physical, signifying a collaboration of the two. In modern commerce, it has evolved as a need to provide an interactive and innovative method for both retailers and consumers.

The installation of digital technology like interactive kiosks or smart mirrors in brick-and-mortar stores or buying and selling of products through phone applications or metaverse is the phygital way.

What is the meaning of Phygital? The Key Components.

• The phygital transformation excels in the interactivity aspect by relying on technologies like augmented reality (AR). Brands integrate AR into their strategy to give the consumers the convenience of exploring their catalogue and experience virtual trial rooms anywhere.
  
• The collection of data through IoT products or in-store interactions allows the brands to personalise their approach towards individual consumers by understanding buying behaviours and patterns.
  
• Self-service kiosks, mobile apps, and online-to-offline (O2O) services are a few examples of the prime implementation of the phygital means.
  
• Marketing on the metaverse, virtual stores, wearable NFTs and blockchain tokens are the new-gen phygital methods to reach out to the consumers and create a multi-platform presence.

What is the meaning of Phygital? Practicality.

• Brand stores are actively integrating phygital technology like QR codes, AR, and mobile payment systems to their shopping strategy. Nike in their stores provides interactive kiosks and a customized experience through their apps. Amazon Go stores have managed to achieve the ideal phygital stores by using sensor technology and their application to create a hybrid and futuristic shopping experience.
  
• In the entertainment industry, concerts and events leverage augmented reality. Theme parks like Disney Land use wearable apparel to immerse the people in a fun experience.
  
• Telemedicine platforms, wearable health devices, and smart hospital rooms are boons of the phygital integration that have revolutionized healthcare.
  

What is the meaning of Phygital? Summary. 

Customer engagement has been re-imagined through phygital. But what is the meaning of phygital? The brands are able to give the consumers immersive experiences through state-of-the-art technology.

The sales are also boosted when an omnichannel approach is taken to market the products. The brands are able to harvest loyalty from their consumers by employing a data-oriented strategy and capturing the consumers with phygital technologies.

What is the meaning of Phygital? A look at the future.

Wearable technologies, Internet of Things (IoT), artificial intelligence (AI), metaverse and blockchain continue to advance further and further and the consumers find themselves surrounded by this technology more than ever.

But the human need for the tangible and physical will never find compromise and therefore phygital will propel forward as a force to reckon with in the commercial world as well as our daily lives.