1. The craze of brands for virtual reality
Acceleration and digitalization of businesses:
What are the 5 reasons to use VR in Retail? E-commerce has exploded in the last few years, creating a real mutation within the retail sector. The pandemic has pushed retailers to go digital. In January 2021, Marc Lolivier, General Manager of FEVAD stated that: " the COVID-19 has strongly reinforced the interest of brands and retailers for immersive remote commerce. All this thanks to 3D and Augmented and Virtual Reality (AR/VR )".
Many brands, forced to close their physical points of sale, have turned to these new technologies. Their goal? to offer their customers a new and immersive shopping experience, close to reality. Moreover, the journaldunet underlines that:"virtual reality is particularly expected by consumers". Indeed, France is in the top 3 of European countries most "conquered" by virtual reality shopping (GetApp 2020 study). However, consumers are not the only ones to see virtual reality as a real asset for the future.
Creating an economic wave (link to Facebook ITW):
According to Mark Zuckerberg, CEO of Facebook: "A new world of applications and services will open up thanks to augmented reality and virtual reality . Invited to the Vivatech 2021 event, he promises an extraordinary future in 5 to 10 years with the development of these immersive technologies. He adds:"Augmented or virtual reality is not just a way to create a great new experience. It is a way to create an economic wave that could create opportunities for people around the world."
It is therefore in the best interest of brands to use VR in their strategy to surprise and stand out. This is already the case in other countries which have more than 5 reasons to use VR in Retail.
2. Virtual reality: already adopted in other countries. One of the 5 reasons to use VR in Retail
Many countries have already adopted virtual reality, including China. A true precursor in the field, more than 50% of the population says they use VR and AR at least once a week. In the Asia-Pacific region, according to a Worldplay study, 95% of consumers have already used virtual reality and this since 2017! The Australians are also ahead of the curve having created a virtual reality experience in a department store since 2016. A partnership between eBay and the leading Myer store in Australia and New Zealand. "Instead of replicating a classic store, it has no walls, ceilings, or even escalators, allowing customers to fly through endless spaces of products" explains to us the article of the Journal du net .
Figures that show that virtual reality would be a real asset for a brand in a foreign deployment. From a national point of view, it also allows to distinguish from the competition.
VR to stand out from the competition:
More and more retailers are offering innovative "try before you buy" experiences. These include Ikea with its augmented reality application, and virtual fittings with luxury brands Gucci and Louis Vuitton. Not only have these major brands understood the importance and future of new technologies, but virtual reality gives them a competitive edge. Not only does it encourage sales in a differentiating way, but it also enables the brand to gather valuable information about its customers' expectations. This gives them an edge over their competitors, enabling brands to get closer to their customers and stand out from the crowd.
In addition to distinguishing itself from the competition and being one step ahead, virtual reality also allows customers to be immersed in the brand's world.
3. Immerse your customers in the world of your brand
Virtual reality has a real beneficial impact on our emotions. Noting that decision-making is often triggered by our emotions, it helps to maintain the link between a brand and its consumer. By providing a unique experience close to reality, customers strengthen their relationship with the brand. It gives them a real sense of ownership of the products and their functionalities, rather than simply buying them. According to a study by Greenlight VR: "53% of consumers would be more interested in a brand if it used virtual reality to sell its products" . Virtual reality therefore makes it possible to build customer loyalty by playing on emotion, but also on a unique experience.
A unique and immersive customer experience:
To decide to buy, the consumer needs to project himself. He must visualize the product, imagine it if he can't try it. Virtual reality accentuates all this by immersing him in a real experience. The visiplus academy article points out, " Virtual reality is seen as a great solution for shopping." The potential of virtual reality in retail is immense. It allows retailers to create a much more immersive and engaging experience than a simple e-commerce site. Having unlimited space, adding enhancements that are not feasible in the real world are all assets that put virtual reality on the forefront. According to an IDC study, "by 2022, retail will be the second largest industry to use VR/AR".
A considerable advantage for increasing sales.
4. Increase your sales with VR: one of the 5 reasons to use VR in Retail
An effective marketing asset:
Thanks to virtual reality, customers have a clear vision of the interest of your offers. They can visualize the products, concepts and get a feel for them before they make a purchase. Deloitte's report(Global Powers of Luxury Goods 2020) tells us that "the amount of time a customer spends on a brand's products increases by more than 70% with VR and AR experiences."
Integrating virtual reality in its marketing strategy is a real benefit for brands. It allows several advantages:
- Offer a unique and personalized shopping experience.
- Increase brand awareness.
- Explain the details of its products in a more simplified way.
- Increase customer engagement.
- Present your products in an attractive and differentiating way.
Stimulate sales of your products:
As we know, physical stores have space limitations. With virtual reality, the constraints disappear. You can stimulate sales of products that take up too much space, or that are not obvious to test. This way you can prevent potential doubts and uncertainties of your customers. The latter can have a precise idea of the product and this influences their purchasing decisions. Virtual reality brings a real added value to the final consumers.
5. Compelling examples:
Retail VR virtual showrooms:
A virtual showroom is a real digital twin of a classic showroom. It allows you to showcase products and collections and to have them viewed by customers all over the world! It can be enhanced with product sheets, furniture that does not exist in the real world, videos, etc. ...., all elements that will allow you to remain faithful to the brand's image while immersing the consumer in a new experience. The goal is to create a real physical link with the customer throughout the experience. Video conferencing tools allow to preserve this human relationship that we can be afraid to lose in virtual.
Immerse yourself in an immersive experience with our virtual showrooms
Shopper studies
Showrooms are not the only possibilities in retail. Indeed, it is also possible to test your products before they are even released on the market. Imagine an infinite number of tests, without physical constraints or budgetary compromises! Virtual reality comes into play here well upstream, before the products are displayed. Thanks to so-called "shopper" studies, it allows us to test purchasing behavior and thus gain a real vision of how consumers perceive products. Virtual reality allows the consumer to be immersed in a real store environment. They can then carry out their purchasing process as usual. By using virtual reality, we free ourselves from the constraints of physical stores.
Discover the different use cases
Of course, there are more than 5 reasons to use VR in retail. Come and discover other possibilities of existing solutions thanks to it. To learn more, please contact us.
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