Studies Show Consumers Spend More Time Shopping in Digital Realities Versus a Digital Page

 

The convenience of online shopping means those crowded malls are no longer. No more waiting in a long line to purchase an item, no more pushing through crowds. But also, no longer being able to see the item in a room, on display. No more walking into a store and seeing the products incorporated as designed. But what if that could change? Retail Refined host Melissa Gonzalez sits down with Head of Global Sales of ByondXR, Mark Loeb to discuss the impact technology can have in the retail industry.

Designed to provide consumers a deeper online connection with retail, Loeb emphasized the “phydigital” aspect of ByondXR, which provides 2D and 3D renditions of retail showrooms and which aims to integrate into the Metaverse and beyond.

“It’s giving them [consumers] the experience of seeing all the things that are happening in the store and see the products and learn about the products…play a game and really engage with the brands.”

Loeb remarked on how much longer consumers tend to spend in ByondXRs digital realities versus typical digital pages, “Consumers are spending a little bit more than 4 minutes and 32 seconds in a branded experience.”

To balance engagement and purchasing, Loeb stated that ByondXR uses calls to actions to maintain engagement, such as watching videos on the product, bundles, and coupons. Loeb said, “Consumers are really engaged with us. It’s almost a 54% conversion rate than a typical PDP.”

Not only are consumers able to learn more about the brands but they are able to engage and really involve themselves in the purchasing process.

E-commerce is here to stay, Loeb, and ByondXR understands the value in the future of expanding retail for the metaverse and creating a virtual, user-friendly interface for consumers.

More Stories Like This

Having Funding Isn’t Enough, Entrepreneurs of Color Need an Ecosystem of Resources

Why Virtual Dressing Rooms Will Be Key for Differentiating in Retail

Follow us on social media for the latest updates in B2B!

Latest

WALBRO AWARDED 43 PATENTS IN 2021 – 2022
February 7, 2023

Tucson, AZ, February 3, 2023 – Walbro, LLC continues to focus on innovation and protect its intellectual property.  Walbro was granted 24 patents in 2021 and 19 in 2022 respectively.    The new patents cover an array of products across our fuel systems and engine management business units.  Walbro has been granted over 1900 patents since […]

Read More
Sustainability in Industry 4.0
The Need for Sustainability in Industry 4.0
February 7, 2023

What is Industry 4.0? A revolution that has many names, Industry 4.0 is the name of the 21st century technology boom that is creating advanced AI, robotics, and smart, connected devices. But how can industry 4.0 help change the way businesses conduct business? On this episode of “What Just Happened?“, host Christine Russo spoke […]

Read More
Secondary Ticket Market
Secondary Ticket Market Prices Spike with LeBron James on the Verge of History
February 7, 2023

38,387 points. That’s the number of points scored by all-time NBA points leader Kareem Abdul-Jabbar. And all that separates LeBron James from surpassing that number is 36 points. LeBron’s career average is 27.2 points scored per game. That number puts James on pace to overtake Jabbar’s record on February 9 when the Lakers face […]

Read More