What do customers want from virtual shopping?
Virtual reality shopping is here and consumers — or at least the ones that are tech-savvy — are ready to use it.
Seventy to eighty percent of "early tech adopter" consumers are eager to use virtual commerce technology to design rooms, customize products and shops with friends from across the globe, according to a study from L.E.K. Consulting.
The report said that retailers are ramping up investments in two types of virtual commerce technology: virtual reality (VR), where consumers use headsets to enter a completely digital world; and the more-accessible augmented reality (AR), where they use their smartphones to get information (such as prices and color selections) overlaid on a picture of the physical showroom or shopping space.
“For retailers, the appeal is obvious,” said L.E.K. managing director Rob Haslehurst. "These technologies are a new way for retailers to do what customers want them to — create compelling shopping experiences and have rich communications with them."
Eighty percent (80%) of shoppers want to use AR or VR to design a room or physical space by browsing virtual or physical showrooms, getting information about furniture and décor, and "seeing" what it looks like. (The survey respondents were made up of consumers who had already experienced VR and AR technology.)
Savvy retailers are already in tune with the trend. Wayfair, for example, already features VR showrooms where customers can see a room come together as they fill their basket with products, and Lowe’s "Holoroom" lets customers design a virtual room and then tour the space. Alibaba's "Buy+" VR app allows consumers to browse and buy from the aisles of a virtual store, no matter where they are in physical space, the study reported.
In other key findings:
• Seventy percent of survey respondents want to use v-commerce to try on clothes and accessories, and to customize the items. Consumers can start with an image of themselves on their smartphones, then search for the perfect shade of makeup or an eyeglass frame that perfectly suits them. The Gap and Sephora are already offering these AR applications.
• Seventy percent of respondents are strongly interested in virtual shop-ping. Here, they can use VR headsets to shop in a virtual store with a friend who isn't physically present, or be guided by an artificial intelli-gence (AI) "virtual shopper" similar to Alexa or Siri.
“V-commerce can create new, special experiences that would otherwise not be possible, and that leads to greater consumer engagement,” said L.E.K. managing director Maria Steingoltz. "It enables retailers to unify physical and digital channels — brick-and-mortar retailers can bring digital capabilities into the store experience, and online-only retailers can create virtual ‘stores'. And the rich experience can generate more sales — a customer can 'see' a sofa in his or her own living room, and then be shown the cushions, lamps and side tables that go with it.”
L.E.K. offered the following tips for retailers who want to take advantage of the v-commerce opportunity:
• Act immediately to make AR and VR a part of their digital strategy.
• Establish a compelling value proposition and define the business model. "Make sure customers understand from the first encounter how the technology solves their pain," said Steingoltz. "And make sure to define the resources, concrete goals, and metrics for the pro-ject."
• Consider making alliances with technology leaders. "Retailers don't need to be technology experts," said Haslehurst. "Look for alliances that provide access to world-class technology and give technology makers a good story to tell.