Project Management

Virtual Store Info

  • Aman
  • July 28, 2021
Virtual Store Info

What is a Virtual Store ?

Virtual stores smartly virtualise your physical stores with the use of advanced technologies assisting you to stay on the edge of the competition. This enables the customer to experience a store online just as comfortably and interactively as they would in real life.

Customers often consider conventional shopping, physically browsing the products through the catalogue time-consuming and burdensome. The entire concept of virtual stores capitalizes on solving this roadblock to provide the customer a seamless experience of surfing through the catalogues effortlessly. The browsing experience for your customers at the comfort of their own homes by incorporating AI and 3D rendering into your sales to virtualise your store physical with precise 3D models of the products make the shopping experience more intriguing and glimpsy by creating virtual showrooms to showcase the plethora of choices they provide.

Virtual Store
Virtual Store

Why virtually showcase your products in an immersive way?

One of the major leaping advantages Virtual stores have over conventional shopping methods is the customer has a chance to virtually visualise the product before purchasing it. This will let the sellers dive into the depths of customer satisfaction capturing on the prospective bulk.

Differentiating based on the technology and customer engagement, Virtual stores can be either 3D visual stores, Augmented Reality assisted stores and the virtual reality stores.

  • 3D virtual stores These stores allow the customer to navigate across the stores through network assisted electronic devices like mobile, laptop etc without the requirement of any additional devices or accessories. The customer can avail the on-screen navigators to browse across the store and the products
  • Augmented Reality Assistance- These stores have taken the basic ideation behind the virtual stores and have resonated it on a much technical front. Augmented reality lets the customer visualise how the product looks or fits in with the real-life surroundings. The AR enabled applications scan the customer and his surroundings and virtually augments the product into the environment so that the customer can experience an almost life like resemblance of the product.
  • Virtual Reality stores- With the advantage of VR headsets and controllers, Virtual reality stores can enable the customers to take on an immersive experience by virtually manifesting the customer’s surroundings to fit in the store.

What are the advantages of having a Virtual Store?

Virtual stores can ensure the joy in shopping by leveraging on the advantages of both offline as well as online shopping. Have a look further to narrow down a few of the advantages virtual stores offer-

  • Convenience- With the world moving at a sprinting pace, it’s not feasible for everyone to squeeze in conventional in-store shopping in their day. For these kinds of people who cannot devote enough time to go shopping, virtual stores are going to be their primary go-to.
  • Broader customer base- With virtual stores serving as a strong stand in the online marketplace, the potential to capture on the new prospects is limitless. Whether the physical store is in a remote location or a metropolitan, customers can avail your products and services with the help of your online store
  • Keeping up with the pace- In the age of technology, Millennials rely on online shopping as the primary method of shopping and hence, leveraging on this customer base would help thrust the business into a much brighter future.
  • 24/7 Store- Unlike physical stores, virtual stores have the capability to function 24/7 and accept orders round the clock with minimal human involvement. This astronomically increases the scope of new orders and prospects coming in.

 Looking to streamline the process in your online store?

AI has not only imprinted in the virtual side of the stores, but also in the field of e-commerce and online marketplaces.

Have an online store ?  Drive up customer interactions and engagement with the assistance provided by smart bots, sales avatars, and automation services by AI. Experience the new wave of customer interaction by optimized product mix and suggestions based on algorithms by capitalizing on the usage of deep neural networks and proprietary genetic algorithms to short circuit the information loop delivering hyper-real time recommendations leveraging data collected intelligently from the interactions and previous purchases.

Personalizing the shopping experience to the client in a convenient and interactive way has never been easier with the revolutionary assistance provided by the virtual sales assistant. Step into a more cost-effective means of sales capturing the advantages of intelligent algorithms to gain more control and ultimate flexibility in the process.

Build your virtual space now with DaveAI

Transform your business into a virtual marketplace gaining in on the increased value addition with technological assistance.

DaveAI visualizers are powered by state-of-the-art visualisation and AI technology that has the potential to personalize the experience of the customer by tracking and analysing their preferences and providing recommendations through chat and voice bots thereby improvising the virtual shopping experience. One can also add a Virtual Avatar, with conversational capability, within the virtual store to make the entire experience just as close to a real-life scenario.

Want to explore how DaveAI can further assist you in your journey towards the digital era? Book Demo

Q1. What is a Virtual Store?

A. A virtual store is an online space that replicates the functions of a physical store in a virtual environment. This experience can be offered to the customers in the form of 2D, 3D, AR or VR spaces.

Q2. How does a virtual store work?

A. A virtual store allows brands/stores to showcase all their products in a photorealistic virtual space. Brands can further tag each product for the ease of customers. Customers visiting the virtual store can obtain product details, add products to cart and complete the shopping process.

Q3. Why build a virtual store with DaveAI?

A. DaveAI’s virtual store solution provides an immersive customer experience with the help of a chatbot/voicebot or a virtual avatar with whom customers can converse and obtain real-time product recommendations.

Q4. What is a Virtual Avatar?

A. A Virtual avatar or a virtual assistant is a virtual salesperson of a brand/company. This human like avatar mimics a human sales brain and can have two-way interactions with the customers in various languages.

Q5. How is virtual store different from traditional stores?

A. Conventional and traditional physical stores require the customers to visit the store and interact with the sales agents to purchase the product.
Virtual stores on the other hand, enable the customer to purchase the products online without the necessity to reach out to the store. Complete automation of the process right from the display of products to the payment allows the convenient purchase of the product to the customer. With the advent of technology, stores are now on the verge to upgrade from the traditional to the latest virtual stores to engage more prospects into the sales funnel.

Q6. What is the purpose of a virtual store?

A. The main purpose of a virtual store is to convert the traditional and conventional instore operations of a business into online to enable the customer to shop at his/her own convenience. To achieve this, every process starting from product display to payment is streamlined and digital.
With this streamlining made possible, all the customer needs to purchase is a network supported device to access the store and finish the purchase. Owing to these conveniences offered, brands are now aggressively investing in virtual stores to facilitate more sales and further the brand penetration into the market.

Q7. What is virtual shopping and how is it important?

A. Virtual shopping refers to the online shopping activity which sometimes incorporates the usage of a virtual avatar to enable the customer to browse and choose among the shelf of products.
The main aspect of virtual shopping is the possibility to visualise the product with a touch of personalisation to make it more appealing to the customers. With the all-time possibility of shopping through online means, virtual sales allow the customers to purchase at any time of the day.

Q8. What makes virtual stores successful?

A. Virtual stores provide a solution to the never-ending chores of the conventional physical store. With the successful streamline of the process from choosing from a catalogue to the end payment, virtual stores enable the customer to experience the fun in shopping at his/her own comfort.
From the seller side, virtual stores take away the hassle of maintaining the physical store and aiding the vast number of customers who visit the showroom. With the processes automated, the seller need not even intervene in the process of the purchase.

Q9. Is virtual shopping the future of retail?

A. With the plethora of advantages provided by virtual stores, it is no surprise that Virtual shopping has a promising future in the retail sector. With the increasing purchase of VRs, businesses investing in virtual shopping will gain a USP other competitors might be slow to adapt.

Q10. What is Augmented Reality(AR) shopping?

A. Augmented reality shopping involves the digital augmentation or overlay of the product into the user’s real world environment to enable them to try on, try out or interact with the product virtually, making it more intuitive than the standard e-commerce purchase.
Be it automotive, home decor, clothing or any other sector, AR can help the buyer visualise the product with the exact dimensions in the real life environment enabling the buyer to virtually experience the product even before purchasing it. As shopping is gradually shifting from physical to online, businesses’ key to success will involve investing into the virtual and augmented sales to enhance the customer experience and thereby remain competitive.

Q11. What is Empathetic AI?

A.Empathetic AI or Artificial Empathy is the ability of artificial intelligence to react to human emotions in an empathetic way.
Empathetic AI has a crucial role to play in virtual shopping. For example, a customer trying on a dress can either like or may not like the dress. Empathetic AI can analyze his expressions and conclude whether the product was to his liking and sort out the later suggestions based on his preference. It helps gather better insight on the customer shopping style and hence enables a more personalised catalogue of products for him/her.

Q12. How does virtual store reduce costs?

A. The first main advantage of the virtual store is to reduce the costs owing to the transaction. While the instore per transaction cost is higher, the vast number of transactions happening online reduces the overall cost associated with each transaction. Virtual stores eliminates the need to maintain an inventory to maintain the incoming orders. The operational costs involved are also far lesser in an online store compared to the physical store.

Q13. How does DAVE personalise the sales process?

A.Dave uses GDPR compliant facial detection & NLP powered conversations to understand customer preferences. This lets the avatar build a schematic structure of the customer preference. It further captures customer’s attributes and engagement data and provides hyper personalization — all in real time. It also provides the customer with a personalised link that they could later explore & purchase online if integrated with the e-commerce store. With every consecutive interaction with the customer, DAVE restructures the algorithm to procure a better and smarter approach towards the customer.

Q14. Why are virtual store better than traditional stores?

A.With the advent of globalisation and the unparalleled rise in the production of heavy products like automobiles etc, virtual shopping will be the go-to option since it involves lower costs than showcasing the actual physical product in-store. Many businesses are now aggressively stepping into the world of virtual shopping to generate more revenue and capture the technologically updated chunk of the prospects.