Impact of Virtual Reality on Ecommerce Platforms

Various e-commerce platforms fail to evaluate the reason why consumers abandon their shopping carts while purchasing their stuff online. The percentage of shopping cart abandonment ranges between 50%-80%. 

Here are the statistics of - Baymard, a web usability research institute survey:  

• 30% of the app users abandoned the cart because they got confused about the appearance of the product

• 35% of the users were confused about the product quality 

• Again, 35% of the users were not sure about how a particular product/dress piece would fit them 

Let’s say, Florina, an online shopper was once confused about purchasing a beautiful dress she saw an online apparel store. She loved the dress and decided to purchase it. She added the dress to her shopping cart and also made the payment for the dress. When she showed the dress to her husband he suggested her to cancel the placed order. The reason for him to cancel it is that he was unsure of the fittings and the dress quality. 

The above-stated issues could have been easily resolved with the integration of immersive technologies like Virtual Reality. Virtual reality technology is a machine-generated (Computer) environment that simulates reality. The technology has gained immense popularity in different domains of medicine, engineering, education, design, training, and entertainment. It is used for branding and marketing purposes at tradeshows, conferences, exhibitions, and more.  

Through VR technologies companies can receive maximum return on their investments. VR generated 3D visuals create a lasting impression on the minds of customers. 

Implementing Virtual reality to e-commerce space will enable consumers to practically evaluate the products available online. Consumers will be able to virtually feel the products and read their components in real-time. The immersive technology persuades customers to enhance overall sales. Its integration in eCommerce can encourage customers to fill in products to their cart and make payments instantly. 

Some stories of VR’s Popularity 

• According to CCS Insight, 24 million VR devices worth $1.2 billion were sold globally in 2019.  

According to 2019 SuperData’s Survey 

• Annual VR revenues reached $3.6 billion in 2018 

• A total of 700,000 units of Sony PlayStation VR,  555,000 units of Ouerculus Go, 160,000 units of PC-Tethered Oculus Rift, and 130,000 units of HTC Vive were sold in 2018 

The increasing adoption of virtual reality technology is an indicator for the eCommerce platforms to use it as a novel marketing tool.  

Let’s explore some notable transformations VR is bringing to the e-commerce industry: 

A Better Way to Market 

Lenskart, an Indian eyewear retailer integrated VR to its eyewear application. VR has enabled LensKart to engage several customers to their products through virtual experiences. The app enables customers to virtually try different 3-D eyewear to make the right choice in real-time. Similarly, Essilor’s “help me choose” section of the website/app enables customers to see how glasses look on their faces. 

Adds Convenience to Shopping Online/ Real Life Simulation  

VR provides comfort and convenience to customers by facilitating them to virtually try products from global retailers. It adds convenience to their shopping experience by eliminating the need to search for physical stores for a specific product.  

Example: Virtual reality plays a significant role while trying makeup brands online. Maybelline Newyork virtual makeover makeup tool website/ app enables its customers to virtually try everything, from mascara to eyeshadow and from foundation to lip shades. The apps save users time in deciding the right product at the right time.  

Saves Cost 

When it comes to purchasing the home decor accessory or furniture, we fail to decide what can fit into our place. VR and AR technologies play a significant role here. VR integrated furniture apps virtually fix an item of furniture to let customers make the right decision. The Ikea Place AR app is designed to enable users to virtually try out products in their space.  

Key VR Services We Offer 

Oodles Technologies Virtual Reality app development experts create multiple VR apps for Android and iOS customers. We create apps that support VR devices like Microsoft Hololens, Oculus Rift DK1, and DK2, steam VR, PlayStation VR, Google CardBoard, Daydream View, PlayStation VR, and Samsung Gear VR. Our Core services include:  

• VR Integration In Various Modules

• Virtual Product Environment Through AR  

• Presentation And Sales Tools Of VR

• VR Trade Shows

• Secure Deployment of VR

• Marketing and E-commerce with VR

Are you facing constant cart abandonment in your eCommerce platform? Integrating your eCommerce platform with Virtual reality technology can turn to be a fruitful thing for your business. For more details on app integration with AR/VR/MR technologies talk to our experts. We are a renowned AR app development company in India. We enable businesses from retail, real estate, and healthcare to incorporate AR and MR technologies to provide immersive experiences. For more details contact our experts today!