AR and VR Technology for e-commerce business...

AR and VR for e-commerce business

e-commerce is one such business domain where technology has completely taken over from human involvement. Augmented Reality and Virtual Realities (AR/VR) are bringing about a breakthrough in the e-commerce, business industries, and the integration of e-commerce stores with such immersive technologies has changed this business model.

Customer is supreme! This adage is living up to its meaning as worldwide businesses are evolving to make shopping easy for their customers. Today, technology has evolved so much that no business can thrive without adopting technology in its delivery processes.

New technologies and innovations have made inroads in e-commerce and retail businesses so much that these technologies are defining processes of customer satisfaction/ brand awareness/ sales process efficiency/ product improvement.

There has been a surge in investments in developing strong, technologically advanced AR & VR. In the next 2-3 years, there will be more than 24 million AR & VR devices sold globally for the e-commerce market.

AR and VR technologies have brought significant changes to businesses, making it easier and more convenient for customers to shop. Today, many customers may not fully realise the extent of these benefits. 

Some of the major advantages these technologies offer include:

• Awareness

  The success of a business depends heavily on making its products visible in the open market. Engaging customers in innovative ways is crucial for selling these products. Both large e-commerce platforms and small start-ups are increasingly adopting virtual methods to enhance customer engagement. This way, innovative marketing methods can be built to capture customers’ attention and influence their behaviour. Also, it will build awareness of brand attributes to focus on the virtual experience and the benefits of the brand attributes.

  
  

• Cost savings

  In this inflationary era, customers seek value for their money. Augmented Reality (AR) and Virtual Reality (VR) can reduce costs by allowing customers to identify and select what they want from the comfort of their homes. Customer can put on head headset of AR and go through the product catalogue in the comfort of their home and make an informed decision about the product to be bought.

  
  

• Convenience

  Today, customers prioritize convenience and effectiveness when shopping. Time is of the essence, and ease of shopping has become a significant factor in their purchasing decisions. Customers no longer feel the need to visit a store to touch and experience a product, as augmented reality (AR) and virtual reality (VR) are transforming the shopping experience. A virtual showroom where all the products can be felt and experienced will create a sense of belonging with the customer.  Customer must be able to experience the complete range of products, features and capabilities first hand.

• Real Life Simulation

  Simulating real life and immersive experience is the biggest boon of AR & VR technology to the e-commerce business. Customer not only can buy products online through real life interfaces, but also try products virtually. Space limitation of retailers is the biggest problem for displaying all the ranges of their products, with this technology, they can provide access to their products easily and faster.

• Maximize Sales

  Customers who are immersed in technology will be drawn to companies that offer virtual showrooms and experiences, which will drive the company's growth. It won't be long before companies that adopt advanced augmented reality (AR) and extended reality (ER) technologies see greater sales compared to those that fail to adapt to these changes. 

• One Stop Solution

  These technologies can enable various brands to coexist on a single platform, creating a vast array of product availability for customers.

• Smart Inventory Management

  This feature will enhance operations and effectively manage orders from all channels. Delivery cost and time is a very big aspect of the business and real time management of inventory will help in controlling these. This will also help in better experience and higher sales.

• Responsive Design

  The design of the AR & VR can be crucial as there are different types of operating systems in the market which have to be compatible to the AR & VR technology being used. If one the operating systems does not support, then there could be loss of business. 

• Quick Order

  This feature allows customers to order quickly and conveniently. It benefits those who know what they want, enabling them to skip the browsing option and place orders swiftly.

• Customer Segmentation

  Analyzing customers' browsing behaviours and purchase history can help identify different customer types. This insight facilitates the development of a targeted customer base and ensures optimal inventory availability for products. A technological revolution in the e-commerce industry is on the anvil and the shopping experience is going to be transformed completely with AR & VR technologies, enabling the customers to see, touch feel and experience shopping differently.

In conclusion, the integration of Augmented Reality (AR) and Virtual Reality (VR) technologies into the e-commerce landscape is not just a trend—it's a transformative shift that enhances the overall shopping experience. As businesses increasingly adopt these innovative solutions, they are not only meeting the evolving demands of customers but also setting new standards for engagement, convenience, and satisfaction. By embracing these advancements, companies can create immersive environments that allow customers to truly see, feel, and connect with products like never before. The future of shopping is here, and it promises to redefine how we interact with brands and make purchasing decisions. The potential for growth and differentiation in the marketplace is immense, making it essential for businesses to adapt and evolve in this exciting new digital era.