The advent of online shopping has allowed consumers to have more options in shopping for the products they need. However, the more options, the greater the lack of attention. Irrespective of that, shoppers are attracted to virtual shopping options. They can attract shoppers’ attention allowing them to enjoy a pleasant and easy shopping experience from the comfort of their homes. This became all the more prevalent with COVID-19 induced lockdowns which forced people to stay at home for days.
Virtual shopping attempts to bridge the gap between online and in-store, allowing a better level of human connection with e-commerce. A virtual shopping experience in retail is primarily meant to seamlessly merge features of online and brick-and-mortar stores. It helps brick-and-mortar stores to convert online customers to in-store arrivals, thus keeping their business running.
In 2019, brick-and-mortar retail transactions accounted for 90% of retail sales at US$ 4.4 trillion, but this changed overnight in 2020 with COVID 19 pandemic induced lockdown. Many physical stores were forced to permanently close down or severely curtail their operations.
If you own a business, it should be amply clear to you to understand that virtual shopping experiences for your business can be beneficial in the long run. All you have to do is boost your customer’s virtual reality shopping experience.
What customers want from virtual businesses is that they want fast fulfillment and a much larger variety of products to choose from at a low cost.
The best way to enhance virtual shopping experiences for your business is to make sure that people know more about your virtual store and keep coming back to your store. You can address the needs of your customers with an ultimate virtual shopping experience that includes the following:-
Personalization is an important factor driving customer loyalty. It helps boost retailers’ ability to increase customer retention by treating the customer as an individual and making them feel valued. Boost virtual shopping experience by:-
Offer customers products relevant to their taste to provide a superior virtual shopping experience. This can be done by:-
The best way forward for online businesses is to maximize the outreach. This can be done by boosting the use of social media platforms.
Nowadays, people don’t have much time at hand either to go to physical stores or even sit in front of laptops to browse through online stores. To boost the customer’s virtual shopping experiences for your business, allow them an opportunity to make a purchase on the go on mobile by:-
Customers will make a purchase with more certainty and satisfaction if they can try their hands on a product they intend to buy in an online store.
In the digital era, an integrated approach can help retailers. Sellers make use of the physical and digital world as they are interdependent. Creating a centralized repository for physical and digital transactions and using a platform that integrates inventory, sales, and customer profiles helps, especially in emerging economies.
Phygital commerce combines physical and digital experiences to emphasize key aspects like ease of use, speed, convenience, and support. Under this, brands and businesses; go all out to promote products/services online. After trying products virtually, customers buy them online but take delivery from physical stores.
Phygital helps both the seller and end-use customer. It allows sellers to save on variable expenditures while simultaneously facilitating a reach out to a broader audience. It allows customers to boost their virtual shopping experience in retail by making purchases from the comfort of their own homes. This strategy gained prominence during the COVID-19 pandemic as lockdowns forced people to stay at home and use the digital mode to buy products. In phygital commerce, buyers get to connect with a brand personally.
Sellers are devising strategies to reward such customers with various perks such as membership cards, special events, loyalty points, and festival discounts. All this while maintaining their traditional physical sales route.
The phygital experience is helping companies in India to reach out and interact with more customers. For example, Bausch+Lomb, a leading eye-care brand on its online shopping platform to promote a virtual shopping experience, introduced features like virtual trials that allowed customers to try out lenses and frames virtually and make more informed buys as per choice.
BPCL, a leading oil and gas producer and seller, is running a customer-oriented digital marketing campaign under Project Anubhav to focus on boosting customers’ personalized virtual shopping experience and providing them valuable insights using the AI-powered Oracle’s CX cloud.
Likewise, TATA Teleservice, a leading telecom service provider, is embracing data analytics and automation to improve marketing strategies, boost customer engagement, and maximise business performance.
Similarly, HDFC Ergo and Federal Bank are enhancing their technology-based customer interactions to digitise the entire application filing process to make payments on a real-time basis; thereby, the virtual reality shopping experience is helping cut down the possibility of human error and other delays.
As brands and companies embrace this change proactively to boost their business, the future of phygital looks set for further growth as the blending of physical and digital experience boosts phygital experience and prompts them to stay with the brand or company.
The advent of online shopping has allowed consumers to have more options for shopping for their favourite products they need. However, nowadays, people do not have much time in hand, and situations like COVID-19 induced lockdowns have forced businesses to take the virtual route to reach out to more customers. Customers can buy products from the comfort of home. However, there are many issues that create an obstacle in the path of a business to fully utilize it as per its potential. Taking steps to boost the use of social media and increase the use of AR technology and phygital principles is helping companies to reach out and interact with more customers.Categories: