Valentine’s Day has officially passed. You might be rejoicing, you might be reflecting, or you might not even be thinking about it at all.
If you’re the latter, we’d like to bring it back to the forefront of your mind, because this year, Go Instore had a date.
We sat down to talk all things live video shopping and augmented reality with our partner London Dynamics. London Dynamics is the leading AR platform for retail, founded by Michael Valdsgaard, former Senior VP Digital Development at IKEA. London Dynamics curated a partnership with Go Instore to deliver best-in-class AR solutions for consumers utilising live video shopping platforms.
Our panel was headed by the fantastic Bhavna Sakhrani, Head of Partnerships at Go Instore, Katie Brookfield, Head of Sales at London Dynamics, and Chris Muir, VP of Sales at Capita.
If you missed us, firstly, we’re *a little hurt* you stood us up on Valentine’s Day, of all days. Secondly, it’s lucky that we don’t hold grudges, and created this round-up regardless…
5 Things We Learnt
This is one of Go Instore’s most exciting partnerships yet. Both Go Instore and London Dynamics share the commonality of being in the technology space, with the intention of bringing the in-store experience, online. Our partnership will take this to the next level for consumers- a match made in heaven if you will…
Retail of all kinds, but with a focus on luxury… As Chris points out, if you’ve got a product you can touch, you’ve got a product compatible with AR and Go Instore. Both solutions work across all industries, though at the moment, with a sustained focus on luxury. Considered purchases often require in-depth consultation and human assistance- combining AR with live video means this immersive experience is no longer exclusively physical.
The solutions are combined seamlessly. Not only does London Dynamics specialize in AR, but also in product visualization. This allows a consumer to see a 360 view of any product- so when on a Go Instore call, the consumer is able to see their product demonstrated from every angle. This removes the fear to purchase- particularly for high ticket items that often consumers want to see in person or in real-time before they depart with their pennies!
Conversion rates soar. Retailers can expect a huge impact in AOV, reduced returns, and increased customer lifetime value.
We are the future, and the future is now. It’s clearer than ever that customers crave an exciting, immersive online shopping experience. This is reflected in the data- 4/10 millennials have said they have no desire to return to physical stores. Revenue from social commerce hit a whopping $492 billion in 2021; and whilst it currently represents 10% of eCommerce sales today, is expected to climb by 7% in three short years.
Catch up whilst you can…