Exploring 4 Types of Virtual Stores
Retail has been changing over the last decade, with “retail virtual reality” picking up speed big time during the COVID-19 pandemic. It’s hard to land anywhere today without some type of virtual shopping experience—whether it’s stores with augmented reality that allows shoppers to scan products for more information, or AI-driven shopping platforms that let users build their dream closet. There are even virtual reality hair salons! Today we’ll be looking into 4 different types of virtual stores and how this might affect retail in the future. Let’s go!
Completely Virtual
Fully virtual stores aren’t stores at all, in the fact that they exist solely in the digital realm. Customers won’t be able to physically interact with anything, but the sights and sounds (and of course purchasing options) of a brick-and-mortar are made available via mobile device or computer screen. Through the use of your device’s camera, virtual stores allow customers to try on makeup or clothing and then buy the items they love online. Some virtual stores even present shoppers with fun, non-shopping experiences; for instance, Charlotte Tilbury’s Virtual Store lets you create an avatar, travel through the store on a moped, invite friends to shop, and even play games.
Augmented Reality
The value of augmented Reality, or AR, is projected to hit $7 billion this year. This is one of the coolest types of virtual retail experiences because it really allows customers to see how things would look on their bodies or in their homes. For example, companies are using AR in their apps to allow customers to see if a couch might fit in their living room, or how a pair of glasses look on their face. Other retailers are implementing AR into their brick-and-mortar shops in the form of virtual mirrors that display what a shade of eyeshadow looks like on a customer. AR has the ability to make customers feel more confident about their purchases, plus it decreases the headaches and cost of returns.
Online Marketplaces
Online marketplaces are basically ecommerce sites that allow third-party sellers to do business, as opposed to businesses selling their own goods through their own website. Places like Amazon and eBay are the heavy hitters here. These sites are able to display products, take and track orders, collect payments, and release payments to the seller. The benefits are enormous to sellers, as well: They offer wider audiences than someone might get on a personal website, plus they reduce costs by eliminating the need for dedicated websites, hosting, and payment software.
Social Media Stores
If you’re like the majority of the world and regularly frequent social media sites like Instagram and TikTok, you’ve likely been served with in-app shopping options. Social media stores enable customers to buy items directly through these platforms—and it’s their convenience and ease of use that makes them so appealing. In fact, it’s predicted that by 2025, social commerce will reach a global value of $1.2 trillion.
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