Retail Technology
Sales Soar As Retailers Add "Immersive Experiences” To Their Shopping Carts!
Updated on Wed, Nov 1, 2023
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Do you know there are nearly 27 million Ecommerce stores worldwide today and all of them are trying their best to catch the customer's attention? Retailers have got the code to succeed in this race and it is none other than an immersive experience.
In fact, as per the survey conducted on 150 retail decision-makers, "88% of U.S. brands and retailers that have invested in virtual stores have seen an increase in total sales as a result."
Let's understand what in the world is an Immersive Experience!
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Well, it's a whole new way of shopping that's designed to grab your attention and never let go. Think virtual stores, (Virtual Reality/ Augmented Reality) VR/AR-enabled try-ons, personalized content generated by clever AI, virtual fashion shows, social shopping, live streaming, gamified shopping and even virtual styling services; these are mini gateways to the world of immersive experience!
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Besides, the immersive experience is super-fun! Iit is becoming a top priority for brands and retailers for an excellent reason. These immersive experiences are not just about flashy gadgets; they're about driving sales and making customers fall in love with shopping all over again.
Woah! That's a huge number but why does immersive experience matter?
- To begin with, data and AI-driven personalization is the secret sauce, making the shopping experience more dynamic and meaningful for customers. Wouldn't it be cool for them to have a virtual store at their fingertips where they can get personalized recommendations based on their needs? Yeah, it's somewhat like Babylist's AI-enabled Baby Name Generator game that predicts baby names based on birth date and gender.
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The second and third significant investments in immersive experiences are VR/AR-enabled try-ons and virtual stores. They're changing the game by making the shopping journey shorter, sweeter and personalized for customers.
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According to a report, 88% of retailers who invested in virtual stores saw a surge in sales. They also attracted new customers (67%) and witnessed more clicks on their products (77%). It's all because these immersive experiences are engaging, memorable and just plain fun.
Which brands are leveraging the power of immersive experiences?
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Let's talk about a company called Obsess. They're the wizards behind these immersive shopping experiences and have some magic up their sleeves.
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They use generative AI to create these experiences, making them faster and more cost-effective. You can go from months of setup time to just a few weeks. They also sprinkle generative content like images, text, games, quizzes, chatbots and virtual assistants to elevate the user experience.
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In fact, within Obsess, brands have seen success in various ways. For instance, a luxury fashion brand saw a 75% higher conversion rate in its virtual store, while a prestige beauty brand witnessed a 35% increase in AOV in its virtual store. Not to mention, a global cosmetic brand experienced a 109% hike in time spent in their virtual store as compared to traditional e-commerce.
In a nutshell, immersive experiences are the name of the game when it comes to revamping the shopping experience of consumers. Are you ready to grab the best of this fun, engaging and future of retail?
Will we see more AR/VR-driven shopping experiences soon?
Our comment section awaits your thoughts!
First published on Wed, Nov 1, 2023
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