While we all got tired of it-that-shall-not-be-named, the virus snuck up on us again, pushing the digital transformation even further. Well, it’s about time, too! The Metaverse is becoming more real every day (no pun intended), and we can’t afford to miss the chance to create its building blocks with the most innovative and engaging technologies poured into virtual stores.?
When the COVID-19 pandemic closed malls and other retail stores, the beauty sector, which has long relied on cosmetic counters and pop-up shops, had to find an alternative way to market and sell products. Many discovered that the solution was virtual stores that provide immersive online 3D shopping experiences, often modeled on the glamorous pop-up installations of the past. Now, these virtual stores are quickly transforming the beauty sector and industry leaders can no longer afford to ignore them, even as pop-up stores are resurfacing.?
But simply having a virtual store is not enough; here is what we learned that can help to launch and run a successful one.
- Less is More: In contrast to physical stores, where the overabundance of products creates a feeling of excitement, virtual stores should contain fewer products so as not to overwhelm the shopper. When viewed on a handheld device, a store with too many products often easily confuses and disorients consumers. So virtual spaces should contain only the most relevant and attractive products. This gives stores the luxury of scaling back on visual merchandising, and creates a more pleasant shopping experience for consumers, creating a way to capture their hearts and really connect with them.? This trend of simplicity in virtual stores goes hand in hand with the move away from flashy celebrity brand endorsements, which are fading away in favor of more authentic product testimonials and personal advice.
- Start small and evolve:?With so many options for customizing the interior of virtual stores, from decorating their walls to picking their floor colors, many brands get overzealous with their initial launch. And this can backfire; just as the sheer number of products can overwhelm customers, so can a store’s complex or overly-decorated design. Brands should start out with a simple interior design, and only add to it after getting feedback from consumers. There is a fine line between being mesmerized by a virtual store and becoming overwhelmed by it, and this has a large impact on its long-term success.
- Every pixel matters: In virtual stores, every speck of content matters, from the text to the icons to the shape and color of the buttons. Because 3D stores are still a relatively new concept, the customer experience needs to be seamless and straightforward.? With consumers still learning to navigate these types of sites, the smallest of errors can confuse users and quickly impact their behavior-- and their buying decisions.? So make sure your virtual store is organized well and encourages customers to click through, browse and purchase.?
- One size does not fit all: Just like physical pop-up shops, virtual stores need to be tailored to the geographic market they are serving. This applies to the shopping experience, as well as the products; in fact, depending on location, the same products are often sold in very different ways.? For example, much of the Asian market, especially in China, respond well to social media influencers’ experienced customers’ and other key opinion leaders’ live streams about products and gamified shopping experiences, while Europeans are showing an increased interest in the speed of delivery, with their orders showing up within minutes or hours of purchase.
- Try, measure, and improve: The digital world is constantly evolving, which means your virtual store should be doing the same. There is always room for improvement.?This means it is important to select a platform with excellent and easy-to-use A/B testing mechanisms, which make it possible to launch and compare two versions of the same site simultaneously and quickly track, and figure out which features work well, and which do not.?
- It's about the experience, not just the transaction:?Consumers of this new age want to find goods and experiences they can connect with, and for retail, this translates into engaging and immersive browsing and shopping experiences. So brands need to create experiences that are not just aesthetically pleasing, but also facilitate interaction with users. Users need to feel like they are really walking around the store and discovering and learning from new products that will become an important part of their lives. The experience needs to be significant enough that shoppers will talk about it with friends online and offline. The sales will only come--grow into a long-term and sustainable revenue stream-- if the shopping experiences are pleasant and interesting.
The effects of the pandemic have propelled virtual stores to play a greater role in the future of retail and e-commerce, with more brands opening them. This means that brands not only need a virtual store, but they need a good one. They need to focus on the actual performance and details of these stores; to figure out what works, and what they can improve.? When done right, the stores can offer an additional stream of revenue, plus be a way to expand marketing, as virtual stores are an excellent way to tell a brand’s story visually and lead consumers to sign up for email lists and promotions. They can also capture valuable insights about customers’ preferences and shopping habits.
There is no question that this is an exciting time in the digital transformation of retail.? But brands must be aware that creating a program is not enough; they need to do it well in order to leverage its full potential.? Virtual stores might be the beautiful face of this new era, but it's the behind-the-scenes design, processes, and strategies that will help keep brands ahead of their competitors.