Retail is in crisis. The COVID pandemic, the cost-of-living crisis and changing consumer attitudes have completely altered the retail landscape. As consumers become ever more protective of their time, attention, money and loyalty, brands must stay ahead of the curve to remain relevant and competitive. As a valued innovation partner to some of the world’s leading brands, HYPERVSN is uniquely placed to educate and inspire retail leaders looking to future-proof their businesses. In the first of a series of webinars, we facilitated a conversation on the future of retail.
Over 100 attendees joined us to learn from our industry experts: Tony Madden, Managing Director of the Phygital Lab, Diana Sulzhyts, Marketing Manager and Astrid Pocklington, Head of Demand Generation. Click here to watch the recording or read on for a quick summary of what you missed.
The Truth About Immersion
With 64% of leading consumer brands investing in immersive experiences, the future of retail is, unquestionably, immersive. But what does a truly immersive experience look like? Tony shared some insights into the real meaning of immersion as a state that engages all the senses and creates feelings of dissociation, disbelief and delight. He reminded participants that an immersive experience doesn’t have to be time intensive. It can be just for a moment – but that moment has the power to shift your brand’s relationship with your consumer.
Holography is one way in which brands can create true immersion. The application of holography in a real-world setting, creating a mixed reality without the need for headsets or screens creates an all-encompassing immersive experience for consumers, cutting through the noise of other digital and advertising formats. Tony and Diana moved beyond theory by sharing some impressive videos displaying real-world applications of this technology. HYPERVSN has worked with some of the world’s leading brands and, through these case studies, the audience was transported to immersive experiences bringing brands like Coca-Cola, Harrods, Nike and Diageo to life. These success stories show that 3D holography can supercharge the customer experience at flagship stores, pop-up events, in shop window displays and many more locations.
Your 4-Step Winning Strategy
Immersive experiences are not just a passing fad. Astrid, our head of demand generation, shared some key insights from our recent consumer research report. Perhaps most notably, she highlighted that, while only 29% of consumers had encountered an immersive experience, 63% of them reported that this activation improved their shopping experience. Providing further context, Tony added that the global immersive technologies market is set to reach an impressive $170.2 billion by 2033. As retail stores become less focused on transaction and more focused on emotion, how can your brand keep up?
Tony shared his 4-step process for any brand looking to bring immersive experiences into their retail strategy:
Step 1: Evaluate your current retail environment.
Step 2: Identify specific areas where immersive technology can enhance customer engagement and sales.
Step 3: Consider which products, services and experiences would benefit the most from an immersive upgrade.
Step 4: Research and select the best solution for your budget, space and desired outcomes.
For brands who are already certain that 3D holography is right for them, Tony also shared his 4 key questions to ask when designing an immersive experience. To learn how to use these questions to revolutionise your customer experience, watch the webinar replay now. Ready to start your 3D holographic journey? Get in touch now to find out more about working with HYPERVSN as your innovation partner.
