Immersive technologies, including virtual, augmented, and mixed reality (VR/AR/MR), gamification, and non-fungible tokens (NFTs) were set to influence the next generation of shoppers, a new research survey has learned.
Findings from a Bazaarvoice survey 98 percent of those surveyed in the UK responded they would shop based on their customer experiences over prices.
The survey also revealed that UK residents were the most excited about live shopping, virtual reality (VR), the metaverse, and augmented reality (AR) at 45 percent, 38 percent, 26 percent, and 22 percent, respectively, adding 48 percent would like to see immersive technologies at on-site stores.
Research also noted that just 36 percent of British people responded they were aware of the Metaverse but did not understand its use. 31 percent believe people will regularly use the Metaverse in 3 to 5 years, with only 5 percent stating it would happen in a year.
Our recent study finds that the easiest way to take your customers’ digital shopping experience to the next level is through #rewards programs.
Read on: https://t.co/3YDE60OuOQ pic.twitter.com/PprzwiFhJT
— Bazaarvoice (@Bazaarvoice) July 28, 2022
Roughly 12 percent of those surveyed said it would never be widely used, the report found.
Despite this, non-fungible tokens (NFTs) were still a massive focus for shoppers, with 48 percent stating they were aware of the digital assets and 22 percent stating they were partially aware. 26 percent were fully unaware of what NFTs were or their purpose, the report stated.
A huge two-thirds of people were ready to purchase NFTs, and 38 percent were expecting to buy one in the next 12 months, the report read, adding 28 percent planned to do so over the next few years.
Zarina Lam Stanford, Bazaarvoice’s Chief Marketing Officer, said that shoppers no longer needed convincing to shop online but companies “have to up their game (literally) to keep them there.”
She continued, stating,
“Consumers are ready and excited for these tools to not only entertain them, but also help them make more confident and informed purchases. Sellers need to experiment with how these technologies can enhance their shoppers’ experience and drive sales”
Ed Hill, EMEA Senior Vice-President for Bazaarvoice, added that consumers wanted their expectations “exceeded.”
He explained,
“Technology is how we achieve that, but the key is not just implementing offerings such as VR or AR, but about developing a fully integrated ecommerce experience that will take the shopping experience to the next level. In doing so, it will transform it from a practical and transactional experience to a fun and engaging one”
He concluded that European and other global brands could leverage bespoke strategies and emerging technologies in advanced markets such as China for “potential success.”
Headquartered in Austin, Texas, Bazaarvoice is a global research firm with offices in New York, London, Paris, Bengarulu, Belfast, Munich, and Sydney. The firm offers bespoke reports and strategic partnerships for clients building user-generated content programmes and expanding global outreach.
The findings come as several of the world’s top brands, including Nike, Adidas, Walmart, PUMA, MUJI, Timberland, Under Armour, McDonald’s, Wendys, and many others have begun tapping emerging technologies such as XR and Web3 to expand customer outreach, promote products, and host virtual events.
