Virtual Reality Shopping Technologies

📚 Excited to share that a paper I authored during my MBA final year is now making waves in classrooms! 🌟 It's humbling to see my alma mater using my work in their Sales and Distribution Management classes, sparking discussions and curiosity among students. 📝🎓 I'm thrilled to have received queries from students eager to dive deeper into these concepts. 💡 It's a gratifying feeling to know that my insights are contributing to their learning journey. You can access the paper here: https://lnkd.in/db8Xd2jE 𝗦𝘁𝘂𝗱𝗲𝗻𝘁 𝗤𝘂𝗲𝗿𝗶𝗲𝘀 𝗮𝗻𝗱 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲𝘀: 1. 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻: How does the Metaverse address the issue of integrating physical and digital retail experiences, and what technologies are used to bridge this gap effectively?   𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲: The Metaverse employs virtual and augmented reality to bridge the gap between physical and digital experiences. It allows for immersive shopping scenarios, letting customers explore virtual storefronts with personalized elements. This 24/7 accessibility enhances convenience while retaining the interactive aspects of in-store shopping. 2. 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻: Can you provide more examples of how retailers have successfully utilized the Metaverse to create immersive and personalized shopping experiences for customers?   𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲: Certainly, Nike's "Nike Rise" and IKEA's "IKEA VR Experience" are prime examples. Nike Rise offers gamified experiences and personalized workout plans, while IKEA VR Experience allows customization of furniture and virtual tours. These experiences enhance customer engagement and brand loyalty. 3. 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻: In terms of supply chain management, how does the decentralized ledger technology in the Metaverse compare to traditional methods used in omnichannel retail? What are the practical implications for businesses?   𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲: Decentralized ledger technology in the Metaverse offers real-time, transparent tracking of transactions and product movements. Compared to traditional methods, this leads to improved efficiency, reduced risks of fraud, and better collaboration among stakeholders. It streamlines information sharing for more informed decision-making. 4. 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻: Could you elaborate on how the use of blockchain technology in the Metaverse enhances the trust and transparency of e-commerce transactions? Are there any limitations or drawbacks to this approach?   𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲: The use of blockchain technology in the Metaverse creates tamper-proof and immutable transaction records, fostering trust in e-commerce dealings. This contrasts with omnichannel retail where transaction details might be siloed, potentially affecting trust. Blockchain ensures that all parties have access to the same, unalterable information. These are just a few of the questions, and I'm thrilled to continue discussing these concepts. Feel free to read the full paper to explore more insights!

Forget the vague reports from consultants or so-called “market studies.” We measured how 3D and AR virtual try-on have driven $26M in new revenue for 49 brands/retailers by tracking millions of real users. We were tired and frustrated of outdated reports from 2022 claiming that X% of shoppers are 'more likely to buy' if they engage with products in 3D, or Y% of users 'would pay more' if a try-on option were available. So, we built the analytics tool capable of tracking real data across dozens of brands and millions of users that compares those who engage with 3D and AR try-on experiences to those who do not. Results speak for themselves: > DOUBLED conversion rates > $26M in new revenue within 12 months The opportunity: > Engagement rates are still low. With Amazon and Zalando adopting 3D, consumer expectations are shifting fast. Investing in 3D TODAY will pay off more than expected as engagement grows over the next 1–2 years. My take: > We need a new, AI-native UI for shopping. Browsing and scrolling are not the future of eCom. Ask me anything in comments and I will tell you more about how we measured it.

Virtual try-on tools are rapidly improving. The accuracy and experience of these tools are key to online fashion shopping as, even in their current state, they reportedly reduce returns and exchanges by 64%. The better the tools, the higher that percentage will get, the more comfortable people will be shopping online, and the more fashion brands will reduce costs and reduce the environmental impact of online returns. Street Fight has a great list breaking down their top 6 virtual try-on tools retailers are using: 🪞True Fit: An AI-driven tool that uses data input by shoppers to generate the right size in apparel and footwear. Probably the best-known on this list, True Fit is used by some of the largest retailers, including Madewell, Lululemon, and Gap. 🪞 WANNA | 3D & AR Experiences: AR technology where customers can visualize how apparel would look on their actual bodies. 🪞PICTOFiT: Avatar-based virtual try-on solution. Shoppers select their avatar, which represents themselves, and then dress the avatar in apparel. Customers can place their avatars in different environments, creating an engaging experience. PICTOFiT also integrates with Shopify, so purchases can be made directly from the try-on experience. 🪞3DLOOK: AI-driven mobile body scanning app that puts clothes directly on their ‘real’ bodies. 🪞Luna Solutions: AR tech exclusively for eyewear retailers. LUNA can show shadows and transparency of the glasses when worn and is used online and in-store by retailers, making the try-on process more efficient. 🪞Intelistyle A company that offers AI-styling solutions with virtual try-ons as one of their offerings, Intelistyle creates thousands of virtual models based on a brand’s specifications, allowing customers to see garments on models that most closely represent them. https://buff.ly/3FLhRFb

In the ever-evolving landscape of retail, the integration of Web3 technologies is setting the stage for a transformative customer experience (CX). 𝐊𝐞𝐲 𝐓𝐫𝐞𝐧𝐝𝐬 𝐒𝐡𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐒𝐡𝐨𝐩𝐩𝐢𝐧𝐠 ✔️ Metaverse Shopping: Imagine exploring a digital store in a fully immersive environment. With 74% of U.S. adults considering the metaverse for shopping, this isn't just a possibility - it's becoming a preference. This shift is transforming shopping into a rich, interactive experience beyond the physical limits of traditional retail. ✔️ AR/VR Engagement: Augmented and Virtual Reality technologies are not just gimmicks; they are game-changers. ByondXR reports a staggering 400% increase in customer engagement, as these tools allow consumers to try products virtually before buying, enhancing confidence and satisfaction. ✔️ Broader Reach: The digital nature of the metaverse enables retailers to extend their reach far beyond traditional geographical limitations, connecting with a global audience eager for new shopping experiences. ✔️ Data-Driven Personalization: In the metaverse, every interaction generates data, allowing brands to tailor experiences like never before. Imagine receiving personalized product recommendations powered by AI, or earning NFT rewards that enhance customer loyalty - 30% of shoppers report increased spending when such innovations are in play. 𝐖𝐡𝐚𝐭 𝐃𝐨𝐞𝐬 𝐓𝐡𝐢𝐬 𝐌𝐞𝐚𝐧 𝐟𝐨𝐫 𝐑𝐞𝐭𝐚𝐢𝐥𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬? The future of shopping is highly personalized, sustainable, and efficient, leveraging Web3 to create connections and experiences that were previously unimaginable. 🔍 What would your ideal future shopping experience look like? #innovation #technology #future #management #startups

🟠 Fashion meets Tech: Balenciaga brings fashion shows to the Vision Pro 👇 The luxury fashion house has launched a new Apple Vision Pro app that allows users to experience their latest collections in an immersive format. 💃 The BALENCIAGA app includes high-resolution videos of their spring 2025 Shanghai show, recorded in 4K using drones and stereoscopic footage to provide a truly unique viewing experience. 🎧 Users can also explore a curated carousel of lookbook images and enjoy music curated by Balenciaga. Balenciaga is the first luxury brand to use the Vision Pro for runway shows, setting a new standard for fashion brands. 🎬 Previously, in April, Gucci released an app for the Vision Pro that incorporated interactive elements into a documentary about its new creative director, Sabato De Sarno. Both Gucci & Balenciaga are under the Kering group, which suggest both brands can share learnings. ⭐️ Other companies, like Mytheresa, Elf Beauty, J. Crew, and Alo, have also launched virtual reality shopping experiences with the Vision Pro. • Mytheresa: The Mytheresa app offers a VR shopping experience featuring curated collections in photorealistic virtual environments at luxury destinations like Capri and Paris, with ambient sounds and intuitive controls. • E.L.F. BEAUTY: Elf's app combines gaming elements with product discovery, allowing users to interact with beauty products in a gamified setting. • J.Crew: J. Crew Virtual Closet provides a 3D shopping experience where users can explore and style products. The app includes SharePlay for real-time shopping with friends or consultations with stylists. Alo Yoga: The Alo Sanctuary app blends wellness with shopping, including virtual environments like beaches & mountains as backdrops for their collections. It features life-size mannequins for interactive visualization and includes complimentary meditation sessions. 🧨 Brands are showing appetite but will these apps really drive (enough) growth for Apple's latest wearable to compete with Meta and others in the field of VR headsets? When the Vision Pro was launched in Feb 2024, it was received with mixed reactions. 📊 It got praised for its great quality & user-friendly design, but the high price of $3,500 is a big barrier to adoption. As of early 2024, Apple sold around 200,000 units, with projections indicating total sales may not exceed 400,000 units for the year. Apple is said to plan for a more affordable version to boost future uptake. 🚀 Despite mixed feelings, the apps of Balenciaga and others are showing the potential for VR to transform shopping experiences. ➡️ What do you think? Will VR become the future of shopping? 💬 #innovation #luxury #fashion #VR #applevisionpro #retail #tech

On this week's M7Unlock, ZERO10 is revolutionizing the retail industry by integrating Generative AI with Virtual Try-On (VTO) technology, setting new standards for realism and scalability in online fashion interactions. Their innovative approach towards interactive retail and VTO has been implemented by top brands like Tommy Hilfiger, Nike, Coach, and UGG. Project: Zero10's Augmented Reality Mirrors Industry: Fashion and Retail Key Differentiator: In-Store Try On Mirrors 🪞Virtual Try-On, Powered by Generative AI: ZERO10's virtual try-on technology powered by Generative AI allows for creating virtual fittings from single garment images, improving the realism and scalability of online retail. This evolving technology uses advanced AI techniques to capture detailed textures and fits, broadening the potential for e-commerce applications and enhancing user engagement with a more authentic try-on experience. 🧑🔬 Post-Pandemic Innovation: Consumer expectations have shifted, demanding that brick-and-mortar retail stores integrate e-commerce conveniences like easy access to products and discounts. An ever-decreasing percentage of consumers are satisfied with their shopping experiences, stressing the need for retailers to adopt digital solutions like AR to enhance both in-store and online customer engagement. 📊 Great Opportunity, Big Barriers: The development of accurate Virtual Try-On (VTO) technology presents significant technical challenges and data privacy concerns. Zero10 and its partners are navigating stringent data protection laws while developing AR solutions that offer realistic and privacy-conscious virtual fitting experiences, balancing innovation with ethical data practices. 🧠 For Brands: Retailers need to merge digital and physical shopping aspects to meet modern consumer expectations, as demonstrated by ZERO10's successful implementation of AR technology in stores. With many consumers expecting more, integrating AR could enhance customer interaction and ensure compliance with data privacy regulations, offering a competitive edge in the retail industry.