WELCOME TO THE FUTURE – V COMMERCE
V-commerce, the buying, and selling of products and services in virtual and augmented reality are finally becoming a practical reality.
virtual commerce is set to become very popular due to the popularity of mobile commerce and virtual reality hardware becoming cheaper, it is not likely to completely replace e-commerce.V commerce Should have impacted almost every area of our daily routines like the business, retail education finance and healthcare in the near future.
Virtual Commerce is only possible with Artificial Intelligence, Internet of things,& blockchain with high speed of networking. Virtual commerce can be viewed as part of e-commerce. By connecting to VR devices, V-commerce seems to be developing as part of mobile commerce.
The V stands for virtual reality. virtual commerce provides users with a different experience due to the fact that they are not physically present at a store. Creating a web presence is considered cheap for firms and can allow them to further establish themselves in the physical market or completely replace their physical presence with a virtual one. Virtual reality is otherwise known as immersive multimedia or computer-simulated reality combines technology and experience design to create completely immersive environments that make users feel like they’ve truly entered simulated environments
This development has led to exciting advancements in interface and interaction design. Using specifically-designed headsets, this revolutionary technology places heavy emphasis on user experience. There are good reasons to believe that the appearance of virtual commerce challenges many long-standing mechanisms in retailing. Being part of an on-going globalization and business transformation, virtual commerce challenges, for instance, the trade-off between reaching a mass market and offering personalized products. By transcending the geographic barriers of the physical world, virtual retailers such as co-shopping sites, online auctions, Internet retailers, and e-commerce portals have the potential to reach the world market. These technological revolutions also require pioneers – companies that are willing to take risks in an effort to make colossal progress in their customer experience development. Virtual reality found its champion in Myer, an Australian retailer who partnered with eBay to launch the first ever VR department store.
So where does that leave eCommerce? To understand how VR could help improve online sales, we need to understand what these technologies can offer as a service (not just as a product) and what they can offer enterprises and clients alike.
Think iPhone, Echo, Pixel, Chromebook, Pixel Buds with Google in your ear. Smart homes, smart cars, smart glasses, and speakers. And all of them with a voice, enabling v-commerce. Or, voice-powered commerce.
1. USERS CAN EXPLORE VIRTUAL SHOWROOMS
To add a new level of intrigue to the online shopping experience, retailers can look to build virtual showrooms or virtual stores. These platforms offer customers a virtual experience which is just about as close to heading out to a physical store as you can get from the comfort of your own home.
One of the major players in this emerging technology is Lowe’s Holoroom, a tool which is leading the way in terms of virtual showrooms. To be specific, Lowe’s Innovation Labs convey that visualizing a home improvement project is difficult but by using a virtual showroom customers are able to better visualize their ideal result.
This technology has been available from Lowe’s Innovation Labs since 2014 but the kinks have been refined over the years and the VR product has steadily grown in popularity since.
It’s not just home design industries that can benefit by employing the aid of these technologies. Wide consumer markets and stores across the globe, such as eBay Australia and the Myer department store, have introduced virtual reality shops to their roster.
2. CUSTOMERS CAN VIRTUALLY VISUALIZE PRODUCTS
Giving consumers the chance to visualize how a product would look before they actually purchase it is the very “try before you buy” novelty which many companies are trying to tap into. These forms of virtual visualization provide a new level of interaction for customers. Instead of merely reading the product description and dimensions in a bid to understand how it will physically look, they can press a button and see it for themselves.
3. IT GIVES CONSUMERS A NEW REASON TO VISIT YOUR STORE
It’s important to note that many consumers still prefer shopping in a physical store. According to the Walker Sands Future of Retail 2016 – a survey of 1400 US shoppers – many consumers stated that they preferred in-store experiences so what e-commerce leaders need to do is make the act of online shopping more like physically being inside a store.
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