The introduction of Virtual Reality (VR) and Augmented Reality (AR) has had a profound impact on the way people work and play, and is making waves in the e-commerce industry. However, many are still unaware of what AR and VR technology are. In summary, VR uses technology to create an entirely new digital environment, while AR uses technology to enhance versions of the physical world to stimulate our senses, such as Magento AR.
Key e-commerce businesses such as Shopify and WooCommerce have started to utilise AR to virtually showcase their products and entice customers. Additionally, VR has also been applied by Shopify to create unique virtual showrooms and online shopping experiences for their customers. Take a look at why more companies are tapping on AR and VR trends to get the best out of their businesses.
Chief among the reasons for the rise of AR/VR trends in e-commerce are the many benefits of using VR and AR in business settings, both in the short and long run.
What both AR and VR is able to do is give your consumers a unique shopping experience that is different from being in-store or when you visit run-of-the-mill e-commerce sites. They captivate customers by letting them see how your products look in various lighting, environments and combinations, all without leaving their homes.
According to 2020 research by Vertebrae, conversion rates increase by 90% for customers engaging in AR technology compared to those that don’t. Additionally, their shopping times are much lengthier compared to others, which could lead to more sales on your e-commerce platform.
VR and AR in e-commerce allows your customers to fully experience your products and their selling points as described. This makes them more confident of their purchases, and reduces the chances of product returns due to unforeseen circumstances.
Consumers value the ability to view products in various colours and designs in order to make an informed decision for their purchase. With just one 3D model, AR/VR enables your customers to enjoy more flexible shopping experiences, such as ‘trying on’ different colours and models of the same product. The efficient use of this technology reduces the time and money you spend on product photoshoots and provides a better return on investment than traditional photography.
In recent years, businesses have been quick to jump on the various AR and VR trends, which has led to more innovative and unique mixed reality trends globally.
VR powered virtual showrooms provide e-commerce customers with the ability to fully experience your products and their properties while staying at home, with KIA already using them for customers to select and learn more about their cars.
An estimated 69.57% of global consumers abandon their carts before checking out, emphasising the need for more innovative marketing methods. As a result, 3D Augmented Reality is being increasingly utilised for online shopping, to captivate and convince customers to follow through on their purchases.
More e-commerce businesses are expected to incorporate AR filters into their product listings, allowing customers to virtually wear their clothes and accessories to gauge the fit.
For example, via the Shopify Plus platform, MOSCOT eyewear has added AR to their virtual try-ons, which has seen their conversion rates more than double as a result. The technology is also a great opportunity for the beauty industry to leverage. Sephora has introduced AR filters to let their customers ‘try on’ their makeup before purchasing, giving them a unique and informed outlook on their products before checking out.
AR and VR provides your company with exceptional and unique methods to engage your customers, and it can be a useful tool to help you grow your e-commerce business. If you are looking for more ways to build your e-commerce customer base, take a look at our tips to grow your e-commerce orders in 2022 and our B2B e-commerce guide.