In recent years, e-commerce has become an essential part of our lives. With just a few clicks, we can purchase anything from groceries to electronics to clothing without ever having to leave the comfort of our homes. However, as technology continues to advance, the way we shop online is changing. Virtual stores are one of the cutting edge technologies transforming the online retail experience.
What is a Virtual Store?
Virtual stores are essentially online stores that allow customers to browse and shop in a virtual 3D environment. These stores use advanced technologies such as augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) to create an immersive shopping experience that mimics the physical store experience. Consumers visiting virtual stores can browse products in 3D from any angle, customize product features, and have an ‘in-store’ shopping experience.
What is the benefit of a Virtual Store?
There are several benefits that virtual stores offer over traditional e-commerce platforms:
- Improved Customer Experience: Virtual stores provide an immersive and interactive shopping experience that allows customers to explore products in detail. Customers can see how products look like in real-life situations, which helps them make better purchasing decisions, and drives conversions from store visitors to buyers.
- Appeal for traditional buyers: Even today, over 44% of consumers prefer shopping at physical stores in-person rather than online according to Radiyant’s latest report (https://www.raydiant.com/blog/state-of-consumer-behavior-2022) — Virtual stores help online platforms capture lost revenue by replicating the in-store shopping experience virtually.
- Cost Savings: Virtual stores can easily scale to millions of consumers globally in a cost-effective way. Virtual stores also eliminate the need for physical showrooms and storage spaces, reducing costs associated with opening and maintaining brick-and-mortar stores.
- Personalized Shopping Experience: AI-powered virtual assistants can help personalize the shopping experience for each customer based on their preferences, style, and previous purchases. Shoppers can ask AI-powered assistants for product recommendations and advice on product features, aiding buying decisions.
Which brands are using virtual stores?
Many large companies and brands are beginning to adopt virtual stores as part of their online retail strategy. For example, recently, Walmart announced that it was actively developing virtual shopping experiences. According to Thomas Kang, VP & general manager of metaverse commerce at Store №8, Walmart’s innovation arm, Walmart is aiming to help “companies and brands sell their products in virtual worlds”. (https://venturebeat.com/metaverse/walmart-to-revolutionize-retail-with-expansive-commercial-strategy-in-the-metaverse/)
Walmart is just one of the many retailers and brands incorporating virtual stores, and others are quickly following suit. Online commerce platforms like Shopify are also developing tools and technologies to help retailers prepare for virtual stores by introducing 3D scanning in the Shopify app, to convert existing products into 3D models. (https://www.shopify.com/blog/shopify-app-3d-scanner)
How to make a virtual store?
Virtual stores represent the future of online retail. By providing an immersive and personalized shopping experience, they offer numerous benefits to both customers and businesses. As technology continues to evolve, we can expect more brands to embrace virtual stores and revolutionize the way we shop online. Whether you’re a small startup or a well-established brand, investing in virtual stores can help take your business to the next level — get started for free and create your own virtual store at https://shoppp3d.com
