- 1 How Virtual Reality can boost your Business
- 1.1 We all know that the future will always have VR or virtual reality. But did you know you can adopt this technology early and boost your business? Read on.
- 1.2 What does Mixed Commerce solve?
- 1.3 An Example of Mixed Commerce
- 1.4 How to use Mixed Commerce into your own business model
How Virtual Reality can boost your Business
We all know that the future will always have VR or virtual reality. But did you know you can adopt this technology early and boost your business? Read on.
Most retail businesses nowadays get some a fair share of pros and cons when it comes to getting more revenue out of modern means such as online shopping, internet presence and online advertising. These are helpful and are proven effective for many successful business owners. Having your store open anywhere, anytime, 24/7, can reach more and more people than the usual brick and mortar store can ever achieve.
While getting these technologies to your advantage might get some positive results for you too but there is something new in the market today: Mixed Commerce. This is using the power of the internet and virtual reality to transform casual web browsing to sales.
What does Mixed Commerce solve?
It primarily solves many problems online shoppers is having for many years now. These are the inability to experience the product, to touch it, to use it, enjoy it before even placing the order. While the internet can show many photos and other people’s reviews about some products, some just wouldn’t settle for anything less than the actual feel of the product.
Virtual reality bridges the gap between distance and the desire of each consumer to get the satisfaction of feeling some sense of ownership – which will in turn become sales.
An Example of Mixed Commerce
Have you ever wondered if you can shop for furniture without doubting if it fits your house layout? Now you can with Lowe’s Holoroom. Lowe’s is a giant furniture retailer that uses virtual reality and serves as an example on how mixed commerce can actually be a game changer in retail business.
A shopper can design a new kitchen or bathroom, chock full of realistic 3D models of Lowe’s products, and then step inside the space using an Oculus Rift VR headset. It’s a free and unique shopping experience, which creates interest in the public while also leaving Lowe’s with the ability to showcase every single product they sell without expanding the square footage of their store.
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How to use Mixed Commerce into your own business model
Nothing beats the old fashion free try, free demo approach. Much like a car dealership works, making the client to actually purchase anything, they got to try the feeling of actually owning the goods that you are selling. Let them try it and make them want to buy it. In Sydney CBD Repair Centre, smartphone repair customers are given 20 minutes of HTC Vive demo with available Steam games. Interested clients can also buy some virtual reality Google Cardboard which will be available soon.
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Many service businesses are getting into this strategy. Using the internet as leverage to allure customers to actually order something and pay for it in exchange for free shipping is always a pro to the curious consumer. They feel safer and gives confidence in the product they ordered because they can have it shipped right to their doorstep for free and return it, also free! Zappos offers 24/7, free delivery, free returns for many major brands of shoes, bags, and clothing. And they were successful in using this strategy as they can actually have great reviews from old clients. More satisfied clients, more new ones are coming.
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If you want to sell more of your products, give them for free! This is risky and might cost a lot of money but in the long run, this might actually work. Harry’s, for example, sells shaving products for men. This is a very narrow niche but for just $3 shipping, anyone who would want to have a trial kit can actually try their shaving products. The business started as just an online store, now they have physical stores in New York and have products for sale in Target. Pretty effective.
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A fairly vague concept but actually sounds like a stuff of the future. The only difference is that it’s already happening right now. A good example for this is the Metail. This is also an online store that sells casual wear for women. What sets them apart is that you can use their MeModel to make a virtual version of your self and dress it up with the dress you want to buy. This gives you proper size and fit reducing the risk of returning the product when it won’t fit.