Almost every business, organization, and industry is treading through uncharted territory and figuring out ways to revise business plans due to COVID-19. It’s evident that companies that are investing in their ecommerce/online presence are able to adapt more easily.
Consumer Trends: In the last few weeks, we have seen many shifts. People are staying home and practicing social distancing leading to a significant increase in online spending (up 52%). Not only have their environments shifted, consumer priorities have shifted as well. People that spend more time at home are more likely to prioritize purchases related to their living spaces. Right now we’re seeing a surge in chairs, rugs, pillows, décor, exercise equipment, etc. and a surge in home improvement and redecorating projects is soon to follow. In addition, we’re seeing an accelerated adoption of AR technology among consumers, possibly as a replacement for in-store experiences, with those engagements driving a massive lift in conversion rate (539% in March, 2020)
Provider Trends: Companies are scrambling in order to meet the demands of the consumer who wants to stay home rather than purchase a product in person. Companies that are investing in their eCommerce/online presence are able to adapt more easily. Providers are realizing that customers want personalized experiences whether they are at brick and mortar stores or online. According to Deloitte, 71% of consumers who customized a product would be prepared to pay a premium price for it. Retailers are having to find ways to give their customers the ability to modify colors, fabrics, finishes and other details to enhance their overall experience - leading to an increase in their conversion rate. Some companies are hesitant to make changes in anticipation of everything returning to “normal” following this pandemic. However, it is likely that the future of consumerism and business in general has changed forever, and that trends toward online buying and AR experiences will endure as new normal elements of the purchase funnel.
Unfortunately, the COVID-19 crisis has served to highlight the many inefficiencies and weaknesses of traditional product photography. Product photoshoots are costly and almost impossible due to recent stay-at-home orders. Epigraph's platform generates high resolution product photographs that are indiscernible from the real thing, saving time and expenses incurred with traditional photography. Epigraph is able to deploy infinite variations of your products on demand and in every combination of finish possible - without ever touching a camera, booking a studio or shipping a product.
Epigraph’s WebAR technology allows you to bring your showroom to people’s homes, making it a perfect solution for today’s social-distanced world. As people evaluate big-ticket (often emotionally driven) purchases such as sofas, décor and fitness equipment, augmented reality experiences let customers visualize your products in their own space, bridging the gap between ecommerce and brick and mortar showrooms. This level of engagement & interactivity both provides a connection to the product while also resolving questions around space planning and color selection.
Epigraph’s WebAR creates photorealistic digital experiences in real-world spaces. While COVID-19 has presented many unique challenges, we are committed to helping your business find unique opportunities that will help you get through this unprecedented situation and come out stronger. We’re in this together.