The explosion of online content, streaming services, and social media have led to an ‘always-on’ lifestyle in which people are always connected. Simultaneously, eCommerce and online shopping is expanding so rapidly that, according to research, we anticipate 300 million online shoppers will be present in 2023.
While this digital ubiquity is excellent news for businesses selling digital products (like apps, websites, videos, e-books, etc.), it has also reshaped how people shop for physical products. And we’ve all been there: we have all purchased something online because it was so much easier, more convenient, and without waiting in long lines or going to crowded malls.
This flourishing is generally good for the business and profits, but we have to wonder how much money is lost due to returns. According to Soocial, in 2021, eCommerce refunds cost merchants $218 billion.
Let’s talk in numbers for a bit:
- Compared to products purchased in brick-and-mortar stores, which have an average return rate of 8–10%, eCommerce sales have an average return rate of 18.1%. In other words, product return rates in eCommerce can be 2-3 times greater than in actual stores.
- The Wall Street Journal reports that the reasons behind the startling 70% increase in the eCommerce product return rate from 2019 to 2020 are still unknown.
- Because the size, color, or fit was wrong, 34% of Amazon consumers and 46% of other online store customers returned an item.
In other words, businesses are counting their chickens before they hatch!
But all is not lost: in the 21st century, technology proliferates and offers solutions to any problem imaginable.
What Does the Future of Online Shopping Hold?
Well, this is an obvious one: give people a chance to try the items before they make up their minds and buy your products. Here’s how virtual shopping is changing the future of eCommerce and how you can join in.
Try-Before-You-Buy
Try-before-you-buy is a retail trend that gives online shoppers a chance to try out products before they buy them and is expected to play a massive role in the future of eCommerce. This trend is essential for several reasons. For one, it helps prevent the risk of purchases going wrong: no one wants to spend money on a product that doesn’t work as expected. However, it can also potentially change the way people shop online entirely. Amazon offers this feature to its Prime members.
Virtual and Augmented Reality
Try-before-you-buy has always been about more than just allowing customers to try on clothing before they buy it; recently, it’s been about bringing the in-store experience online. Virtual Reality (VR) and Augmented Reality (AR) are technologies currently being explored in this area. AR technology allows digital content — such as clothing — to be superimposed on a user’s real-world view. This way, shoppers can try on apparel they see online and decide whether they like it in person, or test out different furniture to see how it looks in their homes. This technology is still in its early stages, but is expected to become a significant part of shopping — particularly online — in the future.
One eCommerce platform, Shopify, is already integrating VR into its platform. When you use Shopify to create a VR shopping experience, you can place products directly into a virtual environment so your customers can take a closer look at products without downloading any additional software. These are just a few examples of how VR technology is changing online shopping.
3D Virtual Fitting Rooms and Virtual Try-On
While AR can bring an in-store experience to an online purchase, 3D virtual fitting rooms, on the other hand, allow shoppers to get a virtual try-on from the comfort of their own homes. By using scanning and modeling technologies to create a 3D digital model of a piece of clothing, retailers can offer their customers the ability to try on products from the comfort of their homes via a computer, mobile device, or VR headset. A VR fitting room is conducive for shoppers trying to decide between different sizes or who have unique body shapes.
This is my favorite because it gives you a realistic look and feel, it’s the least cumbersome to set up, and it doesn’t require additional headsets or tools.
In September 2022, Walmart launched its virtual try-on program, “Be your Own Model” with over 270,000 items to choose from.
It’s handy for items like jewelry, glasses, or similar accessories with an emphasis on how they look on you versus how they feel, (such as shoes.)
Additionally, we have seen furniture companies trying to join in as well. You can see what a sofa would look like and how it would fit in your room, a feature also available on Amazon and Pinterest.
Check this out yourself on this product page and this video. (youtube link)
On Amazon, of course, a lot of it depends on…well… Amazon! Just like with 360-degree images, the virtual try-on is not available for all categories, sellers, and products. But this shouldn’t be a roadblock—just a small hurdle. Fitbit, for example, has come up with the most creative solution: they’ve added a QR code on their Amazon storefront so their customer can get that feel of their products virtually. What it does is it takes you to a landing page where you can see what their product would look like on you – and this is so smart because this way, they are not violating any of the Amazon Terms of Service. Those shoppers who then want to purchase the products are taken back to Amazon to make their purchase. GENIUS!
Social Media Filters
Social media is undeniably a factor no one can afford to ignore these days. So, if you can find a way to create filters and effects by promoting your products, by all means, go ahead and do it. There’s nothing more engaging than this. Give people the opportunity to play and have fun without perceiving shopping as an obligation or a chore; they will engage and spend money on your products.
Some examples we can mention are hair color-changing filters (perfect for selling hair dyes,) a filter that will find an ideal glasses shape based on your head shape, skin and hair tone, or beauty products.
Besides, rumor has it that TikTok wants to be the next Amazon.
Virtual Shopping Will Be Standard in 5 Years
Virtual shopping has already changed the game! This way, you can get the best online shopping experience possible. It doesn’t get any more realistic than this from the comfort of your home.
According to research, 35% of online shoppers and 51% of shoppers said that they would buy online more if they could try items on at home without leaving their house. In fact, 39% of shoppers have already used virtual try-before-you-buy. According to Alexander Sokhanych, it is expected that ”$2 of each $10 spent in eCommerce sales (not including in-app purchases) would be thanks for using AR“.
Virtual shopping is convenient for customers and retailers because it lowers return rates. Most customers want to buy what’s best for them, but if they can’t try it on, they might make a purchase they aren’t entirely satisfied with. With try-before-you-buy, this is no longer a problem. It is also a great way to engage with your audience and encourage them to make purchases.
Virtual try-before-you-buy will become the standard within five years. So, if you’re a retailer who wants to remain relevant, it’s best to start investing in virtual try-before-you-buy tools now.
Contact BellaVix if you need help and guidance accelerating your online presence!
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