Uttam Kumar Pandey is the Founder and CEO at Bangalore-based Perceived Design. In 2019, he came up with the idea to establish this venture which aims to build products and services to transform brands digitally with interactive immersive technologies besides AR and VR being its prime highlights. The visionary strived to set up a brand that would work to bridge the gap between the physical world and the digital world seamlessly. With this vision, he has successfully built a content creating product which enables brands to design experiential digital engagement like AR and VR in a few clicks.
The e-commerce industry has been growing at a significant pace over the years. The pandemic’s outburst last year came as a blessing in disguise and gave the requisite push to the e-commerce brands to grow and proliferate. However, to have a competitive edge, stocking up stuff in diverse varieties ain’t sufficient. One needs to bring about innovations in their offerings and user experience to ensure that the customers are attracted, engaged, and stick with the brand for long.
Need for the adoption of immersive technologies in the e-commerce industry
In order to cater to the consumer’s preferences and needs which are constantly changing, e-commerce brands need to go one step ahead than just convincing them to buy. Hence, technological adoption has accelerated and has emerged as the viable solution to achieve this very objective. While this process is still in nascent stages, it is expected that the immersive technologies will occupy a prominent place in the functioning of e-commerce brands in the times ahead. As per Research and Market’s report, the global augmented reality and virtual reality is expected to reach $1274.4 billion in 2030 and will grow at a CAGR of 42.9% from 2020-2030. The report further states that various businesses across sectors especially the e-commerce industry are increasingly inculcating these immersive technologies and will continue to do so in the future as well.
Benefits of introducing advanced technological solutions in the e-commerce market
Immersive technologies primarily Augmented Reality and Virtual Reality are increasingly foraying into the e-commerce industry and the operations of the brands. They have helped bridge the physical divide and have made online shopping all the more flexible, convenient, easy, and engaging.
They have emerged as a game-changer for the e-commerce market and have enabled the retailers to make the shopping experiences all the more friendly, enticing, enriched, and satisfying in the virtual space. Using these advanced technological solutions not only enhances customer experiences but also helps the brands in attracting new shoppers and in elevating their conversion rates.
AR and VR help brands to build innovative marketing campaigns to attract customers and actively engage with them as well. They are time-saving, cost-efficient, and convenient for both the retailers and the consumers. They also play a major role in amplifying brand awareness and provide the buyers an opportunity to interact with the e-commerce players in the virtual space.
AR and VR in the e-commerce industry
Immersive technologies of AR and VR enable e-commerce brands to create a replica of the physical store in a virtual environment over which they have control. They can modify it and make it all the more intriguing and engaging for the customers and extend a premium, techie, and impactful experience as per their requirements and preferences.
The virtual showrooms created via VR technology escalate the shopping experience of the consumers and enable them to shop right from the comfort zone of their homes. The virtual representation is as similar as the physical store visit and helps them get an idea about the product or service. They can explore the features and experience the services firsthand remotely.
With the power of AR, brands are able to extend the actual product and service’s look and feel in the virtual setting. It gives the consumers the option to try before they buy. It also helps in better visualization of the physical products than the stores thereby making the shopping experience all the more immersive for the buyers. Via social media filters, preview placement, virtual try-on solutions, and interactive user manuals, it provides a preview of the products or services to the consumers in their comfortable environment so that they can make wise decisions.
Customers can be in their living rooms or bedrooms and scroll through all the product descriptions and attributes, flip through catalogs and visualize how the product would look in the virtual space without paying a visit to the store. The real lie simulation of products also helps them try the product virtually and makes their purchase quick and efficient via real-life interfaces.
Creation and adoption of AR and VR by brands
In order to create cutting-edge solutions and to ensure their adoption happens just the right way, the e-commerce brand needs to have a clear business objective. Additionally, basis the in-depth research, they need to identify the requisite technological tools that would be viable for their business keeping in mind the licensing procedures, the supported devices, supporting operating systems, and the capabilities of the tool. Once this is in place, the brand needs to market the technology so that the consumers are aware about the technological advancements and are educated about its usage as well.
Various dedicated organizations are helping in creating these immersive technologies via thorough research and development and requisite assistance and are providing state-of-the-art technological solutions to the e-commerce brands to help them achieve their business objectives, boost their growth and help them communicate and connect effectively with their existing consumers and prospective buyers.
AR and VR help in making the online shopping experience all the more tech-savvy and immersive. While the immersive technology adoption is comparatively less, it will indeed be no longer an option. Rather it will become the need of the hour for the e-commerce market in the coming times in order to have a competitive edge in the market. Owing to its various benefits, 4g and 5G network and highly capable devices in hand of consumers will make AR/VR usage a daily activity. It will emerge to be the future of the e-commerce industry and will contribute majorly in ensuring that the brands are able to succeed and soar in the times ahead.