Got a spare grand in the bank? Thought not. But you still fancy some stylish wrist action? TAG Heuer is providing the answer by jumping on the augmented reality bandwagon.

A new pioneering app on its website, live “from the end of the month” will allow poverty-stricken consumers to try on a selection of virtual watches in full 3D in real-time.

Consumers will be able to access the tool from their own computers or laptops but a number of store consoles are also being rolled out to enhance the in-store virtual experience.

Consumers visiting the TAG Heuer website will be able to download software, print out a Tag Heuer wrist-band and experience, through a web-cam, a selection of this seasons watches in full 3D as if they were actually wearing them in front of their computer.

The benefits to retailers? Well, the technology platform offers significant additional business benefits by enabling brands to support test marketing, just-in-time capacity, present extended ranges and build a virtual sales assistant to expand staff availability, in addition to supporting displays at exhibitions and in store.

Developed by Holition, the programme allows users to change products, colours and styles at the touch of a button.  Augmented Reality 3D viewing is possible when the user wears a symbol and stands in front of a web cam.

On screen the technology merges the 3D object into real-time video of the person so that the product can be viewed from all angles as the user moves their body.

Intrigued? Well we have a sneak preview video showing the tool in action.

“As part of TAG Heuer’s avant-garde heritage, we always strive to be the brand leader in design, precision and cutting edge technology,” said Antoine Pin, CEO LVMH Watch & Jewellery UK. “We are very proud to be pioneers in this new field.”

With luxury brands becoming more savvy as they attempt to claw their way out of the recession it’s an innovative step forward.

It’s one very assured step on from those luxury retailers such as Prada and Louis Vuitton who have just realised that you can actually sell goods online rather than people having to stumble into your Bond Street or Sloane Street stores. Amazing.

But with luxury brands having the financial clout to embrace AG, its perhaps interesting to see them following rather than leading in some ways.

So, for example, on UTalkMarketing recently we talked about an independent clothing company for children championing the tech, on the back of a collaboration with ad agency Brothers and Sisters.

But without question the tech is there for all to harness. All that’s required now is a little imagination.

Head of digital strategy at marketing communications agency, KLP, Stephen Beasley, provides some inspiration on how brands can move beyond the Augmented Reality hype and turn it into practice.