Last year, RetailX's Met**erse Almanac reported that the technology could have a profound impact on all aspects of digital life, including retail. While it does offer an interesting new way to access the web and therefore engage in e-commerce, new ConsumerX research puts it under the umbrella of many other new ways to shop.
As shown in the chart below, consumers are more likely to see their favorite brands prioritise augmented reality and real-time shopping for the future** experience.
VR and AR retail
The use of virtual reality outside of the metaverse and, more commonly, the overlay of augmented reality on top of the real world, are already tried and trusted e-commerce technologies that will continue to grow. Superimposing cosmetics or clothing on top of a shopper's image has been proven to boost sales. According to a 2022 study by Harvard Business Review, customers who use AR spend 20% more time on the app7%, with an average increase of 128 times. What's more, they're also 19 percent more likely to make a purchase during a meeting than customers who don't use AR8%。
Live streaming
Live streaming of everything from makeup and cooking tutorials to product demonstrations has grown in popularity during the pandemic and cemented their role as a viable way to sell in e-commerce. Similar to TV shopping channels, these **live** events focus on practical tips and provide useful tips using the social phenomenon of ordinary people.
Many luxury brands have embraced the technology, replacing flashy, high-end** content with shoppable live advice shows, while in mainstream retail, Clarins and Clark are both early adopters of live streaming, with the former focusing on skincare expert advice and the latter showcasing its shoe collection.
Super app
A super app is an app that combines a series of different features from a single app into a single (often social-driven) app, which is a growing phenomenon in China. A typical example is China's WeChat, which is ostensibly a social networking and messaging platform. WeChat also allows users to shop and pay, as well as communicate directly with brands.
During the Lunar New Year in January 2023, sales of WeChat travel, catering, retail, and movie apps increased by % and 27% year-on-year, respectively. Its online and offline usage of its own payment services also grew by 23%.
As conversational commerce begins to gain popularity in Europe, and the role of messaging apps, booking apps, and payment apps begins to merge with that of social ** – and vice versa, social ** adds these features – and Europe's super apps aren't far off.