How AR/VR Transforming Jewellery Business – Challenges, Opportunities and solutions
Augmented reality/virtual reality is no longer a nice to have a thing in the e-commerce business. Business giants like Ikea, Sephora, Bluestone, and Marxent Labs are already sky rocking their business through augmented reality. The last big buzz of augmented reality was created by Snapchat — that made the world crazy with their AR-based filter and banked billions in a short span of time.
Being a visionary business person you should know that modern buyers are busy. Some businesses, who understood this truth earlier, adopted the augmented and surged their revenue like never before. While many of them are still reluctant and losing this golden opportunity.
If you are a visionary, who is interested in using augmented reality and virtual reality in the jewellery e-commerce business, then you have landed at the right place. You’ll definitely find it helpful for you to know the opportunities, challenges, solutions provided by Tekki Web Solutions Pvt. Ltd.
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AR/VR in jewellery Business — Challenges faced by jewellery Business
The jewellery business has also got a harsh hit during the pandemic. The industry got shuffled badly, and only those survived efficiently, who had their online presence in reality. With a strong understanding of the jewellery business and buyers’ behavior, we explore the industry to the extent. We found several profit-dropping challenges that most jewelers face helplessly.
- A jeweler needs to justify the price of jewellery in order to sell, but it’s too difficult with current online shopping trends and conventional processes.
- It’s difficult to assure people about product quality and gain their trust when selling online with traditional methods.
- jewellery is costly. So, customers can be stumbling with their decision to buy a piece of jewellery because they have no idea as to how the jewellery will look on them, how it really looks like, and many other related questions.
- Only a few jewellery brands are selling well online, that too with the help of their lineage branding.
Does offline Jewellery business needs to go online?
In present times, where every industry is heading toward making their online presence to sell their product and services online. It would be a disaster in the long term if you stay focused on traditional methods. With the introduction of Augmented Reality and virtual reality in the Jewelry business, there’s no option point left, that makes this unacceptable.
Would customer like purchase Jewellery online?
In this digital era, customers want to get a convenient and hassle-free shopping experience. Online Jewellery e-commerce business is more likely to work wonders.
AR/VR in jewellery business — Opportunities
All the above-listed challenges can be solved just with the flawless implementation of augmented reality/virtual reality. In fact, online jewellery businesses like Tryon, PCJ, and bluestone are already getting huge profit returns by using augmented reality.
“If you didn’t know, “augmented reality in jewellery” is one of the fastest-growing, widely used concepts in the world, where its current market value stands at USD $3.5 billion. Also, it is predicted by a number of researches that there would be more than 1 billion augmented reality users across the globe.” DTS preditcs that the overall Augmented Reality market size will be touch the record milestone of US $198.17 billion by the year 2025.
AR/VR in the Jewellery business — Solutions
“Try and Buy” Experience
“Online v shopping always carries the risk of unfulfilled client expectation, but if you transform your business with Augmented reality/virtual reality that allows you to try your jewellery on before you buy it, it sort of works itself out … doesn’t it?”
jewellery shopping is considered a hefty task; hence users tend to check the jewellery from every nook and corner before buying. Virtual try-on experience facilitates them to try the jewellery virtually and see how it will look on them. Tekki Web solutions can easily integrate AR\VR to your mobile and web apps so that your customers can get a complete next-level “Try and Buy” experience.
See the Stunning Details
It’s time to kick out the boring still images of jewellery that don’t tell much detail about the carving of jewellery. Augmented reality lets your customer see every minute detail of carving before ordering them. This will increase customer engagement and make them an easy and educated buyer.
Personalize Customer Experience
The biggest portion of revenues is reduced due to wrong fits of jewellery. Augmented reality lets customers find out the exact size of jewellery they need. They can customize the fits and order accordingly. Furthermore, this gives them the freedom to place a custom jewellery order too.
Enhance Your Sales
The boring flat images are no longer a perfect option for users to see and order jewellery they need to wear on some auspicious occasions. The idea of video presentation also cannot fulfil the user’s longing for “try and buy”. By giving them the facility to match their looks with the jewellery is a perfect option to boost your sales, and Tekki Web Solutions is a pioneer in doing so.
Want to boost your sales With AR/VR Development Services?
TWS is always ready to help you in your entrepreneurship journey by developing automotive solutions tailored to your business needs.
High Rate of Return
The major problem that online jewellery stores often encounter is the high rate of returns. When customers first buy the jewellery they perceive that this will be the exact fit but when jewellery reaches them, they find it under expected, resulting in a higher rate of the product return. Augmented reality lowers the rate of return due to their unique representation where users can see the micro details of the jewellery that will facilitate them to make the appropriate decisions.
Leverage the Insight
Data can play a vital role to increase the user base and sales. Websites made by Tekki Web Solutions can easily collect and analyze the data of the user to find out the customer’s desire. This will facilitate you to understand your customers better and offer them the jewellery at the right time when they are planning to buy.
Harness the Social media
Social media has become a sure-fire for every business. If you take your jewellery business online, you are welcoming a whole new world of jewellery lookers who were beyond your reach, till now. You can educate them about your new launches, offers, and bring more customers to your online as well as a physical store.
Powerful Presentation with flawless User Experience
jewellery customers are always pleased with good looks. The augmented and virtual reality provides customers with a Revamps Store Experience, like PCJ did to their users. Alongside providing a stunning user experience with the help of AR/VR, they boosted their revenue too. The UI/UX design made by TWS can easily offer a top-notch experience to your customers.
Offer Contactless Shopping Experience
Contactless business is thriving after the Covid-19 pandemic and the trends don’t seem to be ending soon. You can offer real-time & smooth jewellery try, and a contactless shopping experience online. It is highly recommended for every jewellery retailer who wants to expand their business. Apart from this:
- Augmented reality will attract a large number of buyers. It’s far easier and rewarding to do the marketing of an AR/VR based jewellery business.
- AR/VR will increase business efficiency due to the 24×7 availability of stores. You need not worry about the high paying rents of physical stores.
AR in your jewellery business will definitely help you in increasing sales and up-selling your products without even doing any extra work. Many brands have already embraced augmented and virtual reality and are taking advantage of this brilliant technology. Your customer service experience and business value, when combined with AR/VR will open a new business front. If you are looking to enhance your jewellery business with AR/VR, then Tekki Web Solutions Pvt. Ltd., is ever ready to help you.