You see a shirt of red color at Walmart and you are left wondering how it would look if it were a shirt of salmon color. You rethink your previous experience where you had to return a shirt that wasn’t according to your liking but you want to have this shirt in your desired color. What if you could visualize yourself trying out that shirt in salmon color? Wouldn’t it be the perfect experience? This can be possible with the help of Virtual reality.
What is Virtual Reality?
Virtual Reality (VR) is a technology that allows users to interact with computer-generated environments and objects as if they were real with the use of interactive devices such as goggles, headsets, gloves, or bodysuits, which provide users with a sense of immersion in a simulated environment, creating the illusion of “being there” and allowing users to tour the environment, changing their viewpoints and perspectives as they move around. With the addition of force-feedback devices, it can provide the sensation of touch, allowing users to pick up and manipulate objects in the virtual environment. This is certainly some stuff straight out of sci-fi movies!
Why does the Retail industry need Virtual Reality disruption?
Let us just admit it, the retail industry at present feels like a catalog of products with no connection with the users. It’s immensely opaque and sluggish. The experiences are dull and monotonous. People from remote areas find it difficult to have any access to retail stores. For retailers, banner ads are obsolete and rarely drag in customers. The profits are marginal as one has to keep in mind the rent and utility costs of the physical retail store. Retailers who desired to get alongside tech have fallen prey to the Amazons and the Flipkarts. Even if the retailers wish to deliver a high-quality experience to the customers, they are unable to do it. This claims a huge calling for technological disruption and Virtual Reality is placed appropriately around the corner!
How would Virtual Reality transform the Retail Industry?
Virtual Reality has the potential to significantly impact the way consumers shop and the way retailers do business. The use of Virtual Reality in shopping has already had a positive impact on both consumers and retailers, changing the online shopping experience and transforming the retail industry landscape in several ways:
Virtual Stores
Virtual Reality technology offers retailers a wide range of possibilities for designing immersive and engaging customer experiences through the use of gamification. These experiences can be implemented both in physical stores and in virtual spaces.
Virtual Reality can also be used to create virtual replicas of shopping malls, complete with the layout recreated using virtual graphics. By combining the immersive experience of shopping in a physical mall with the convenience and safety of in-home shopping, virtual malls can provide greater accessibility for customers around the world. Shop from the comfort of laying down on a couch with the VR headset on!
Personalized Shopping with the help of Virtual Reality
Virtual Reality technology has the potential to significantly enhance the shopping experience for consumers by allowing them to fully immerse themselves in a product and customize it to their specific preferences. In a virtual shopping environment, customers can get a comprehensive overview of an item and make changes to its features in real-time, such as altering the color or graphics of apparel. This level of personalization is difficult to achieve in traditional brick-and-mortar stores or even through online shopping, as it requires customers to physically handle and manipulate the product.
By offering customers the ability to customize and preview products in a virtual environment, retailers can potentially drive more sales and reduce returns and chargebacks. This is because customers are more likely to purchase a product that meets their exact preferences and needs. VR shopping can therefore offer businesses a unique opportunity to deliver highly personalized experiences to their customers, which can differentiate them from their competitors and create a more loyal customer base. A win-win situation for both retailer and the customer!
Driving a meaningful User Engagement
By using VR, retailers can build highly interactive environments that provide more value to users than traditional ads. This can lead to higher levels of customer engagement and potentially drive more sales for the retailer.
One way retailers can incorporate Virtual Reality into their marketing campaigns is by leveraging social media platforms. For example, retailers can allow users to share their VR experiences with their friends and family, which can help create more awareness and interest in the brand. This can be particularly effective for businesses looking to build a strong and loyal customer base, as it allows customers to become advocates for the brand and promote it to their social networks.
In any social network, the biggest assets are the users as they run the economy. By incorporating Virtual Reality and social media, retailers can create a more comprehensive and effective marketing strategy that helps them connect with and engage their users in a meaningful way.
Customer insights
Virtual Reality offers retailers the ability to gain valuable insights into customer preferences and behaviors through simulated virtual stores. These virtual environments can be used to experiment with different store layouts, product displays, and other elements of the shopping experience to determine what works best for customers. This can be a great resource to find ways to improve profits and cut down losses. By using Virtual Reality to test various configurations, retailers can get a better understanding of the key metrics and what attracts the most attention from shoppers, and what elements of the store layout are most beneficial for the customer experience.
In addition to providing retailers with valuable insights, simulated virtual stores can also give customers a chance to become more familiar with a brand, its store layout, and product offerings. This can help create a more engaging and interactive shopping experience for customers and potentially drive more sales for the retailer. By using Virtual Reality to test and optimize store layouts and product displays, retailers can create a more effective and successful shopping environment that meets the needs and preferences of their customers.
Training New Employees using Virtual reality
Virtual Reality technology offers retailers a unique opportunity to revolutionize employee training by providing a safe and immersive environment in which new hires can learn and practice their skills. By using VR for training, retailers can minimize the risk of costly mistakes and disruptions to the shopping experience for customers, as well as expedite the onboarding process for new employees.
By using Virtual Reality to simulate potentially hazardous situations or environments, retailers can provide their employees with the knowledge and skills they need to handle these challenges without exposing them to actual danger. This can help ensure that employees are well-prepared and able to handle a variety of challenges, while also reducing the risk of accidents or injuries in the workplace.
Ending Note
With Virtual Reality, retailers will be able to create memorable and engaging experiences for customers, making the shopping experience as much about the experience itself as it is about the products and prices. This can help retailers differentiate themselves from competitors and create a more compelling reason for customers to shop with them. The adoption of VR technology in the retail industry is likely to have a significant impact on the way customers shop and the way retailers do business.
Understanding the pain points, we at COMEARTH have come up with a gamified social Metaverse platform leveraging VR(Virtual Reality), AR(Augmented Reality), and blockchain technology that offers shoppers an unforgettable experience while browsing and buying goods online. COMEARTH is bringing social to the e-commerce world by enhancing the customer experience in the metaverse while focusing on sustainability, transparent governance, and the privacy of the users. Don’t miss out on this amazing opportunity as COMEARTH opens up a whole new realm of possibilities – come join us today on an amazing journey into the future!
