SMG’s Immersive Retail Solution: A Metaverse Offering That Empowers Brands to Provide Unique Shopping Experiences
The “digital transformation era” is upon us. Immersive technology and new norms in communication have dramatically affected the way people Live, Play and Work. Traditional “analogue” modes of engagement are becoming less and less effective, as more advanced ways to interface with suppliers, customers and other stakeholders continue to emerge. Businesses that have not embraced digitalisation in one shape or another increasingly suffer lower foot traffic, weaker customer retention rates and higher overhead in their brick and mortar-centric business models.
Silversea Media Group’s (SMG) Immersive Retail Solution bridges the gap between traditional retail and next generation O2O commerce. The technology gives shoppers the complete in-person retail experience they love, all inside of a virtual, feature-rich environment replete with 3D, AR, VR and live chat functionality. Meanwhile, it also compiles customised insights reports on visitor behaviour and preferences. Retailers can use this system-generated information to formulate value-added retailing solutions to give their customers just what they are looking for. . . and improve their ROIs in the process.
As worldwide e-commerce sales remain large and continue to expand — expected to grow from US$4.28 trillion in 2020 to US$5.4 trillion in 2022 (Statista) — it has become essential for retailers to acquire digital capabilities to remain competitive. A key to success will be transitioning a brand’s go-to-market presence from a capital-intensive big box supplemented by a tired, traditional website to a modern, omni-channel, data-driven, cloud-based, AI-enabled, customer experience-oriented platform.
Our Immersive Retail Solution can create a digital twin of a physical store, adding in a feature-rich, interactive, true-to-life virtual environment. Shoppers can assess and configure products in 3D, zoom in and out from different angles to evaluate product quality and suitability, display information and make purchases in real-time. We also enable shoppers to seamlessly connect to a brand representative via live chat (VRTalk) that is set in a bespoke branded environment.
Our solution is end-to-end, including everything from virtualising the physical environment using its 3D scanners to enabling customers to easily edit and update interactive information on its powerful backend platform. We also support a fully-rendered, lifelike virtual environment that can be custom-tailored to a customer’s desired specifications through 3D software. Both forms allow retailers to deliver a unique and eye-catching experience for their targeted audiences.
The future of retail is a shopping experience that flows seamlessly between online and offline. Many retailers have already begun the digital transformation of infrastructure — focusing on supply chains and back-office operations. Now they need to think about how they can leverage emerging technologies and rich, granular data to enhance customer-facing activities.
SMG helps retailers take this important step by creating the immersive, interactive, omni-channel experiences that can take their customers’ shopping experience to the next level. We employ our proprietary engine, AI algorithm, cloud infrastructure, 3D capability, VR/AR/MR technologies, unified communications and API to produce cross-functional solutions. These solutions can address the business needs of various industry verticals, including but not limited to retailing, real estate, MICE events and education.
Want to learn about how our Immersive Retail Solution can create unforgettable shopping experiences? Contact us here.
