Online shopping is having a moment. Much like when the iPhone came on the scene, the eCommerce world is undergoing massive changes. Three of those changes that brands need to pay attention to? Virtual stores, augmented reality and large language models.
Let's dig in.
Virtual Stores
A virtual store takes the traditional eCommerce experience and levels it up with new digital engagement touchpoints such as interactive content, live streaming, gamification and social shopping.
While all in the palm of your customers’ hand, virtual stores provide totally new ways to reach and connect with shoppers. Brands can rapidly refresh store fronts and inventory, launch virtual events and even generate branded avatars. The ultimate goal is to take the consumer on a journey that will result in a purchase, increased cart value and brand equity and loyalty. First-party data collection doesn’t hurt either. Tech platforms, like Obsess, ThreeKit and BeyondXR are leading the way here, giving brands the ability to build their own virtual stores and customizable 3D eCommerce experiences.
Augmented Reality
Augmented reality (AR) is a type of technology that can superimpose text, graphics, or audio within the real world environment around a user. It’s most commonly delivered by a smartphone or headset. Brands are experimenting with this technology, creating unique consumer experiences that blend the digital and real worlds to drive engagement, purchases and loyalty. Expect the buzz around AR – and its potential to shake up the eCommerce world – to get a little louder now that Apple has officially announced its AR headset, Vision Pro.
Large Language Models
A Large Language Model (LLM) is a type of artificial intelligence (AI) algorithm that can not only generate and translate text, but also go as far as predict or summarize content. LLMs have actually been around for decades but one getting a ton of attention right now is ChatGPT. Since its launch in late 2022, the use of ChatGPT has been playing a small but growing role in the eCommerce world. Brands are using it to make tweaks to their product descriptions, generate social posts and other content, and contribute to their virtual store experiences. They’re also using it to map consumer journeys, gathering insights that can improve engagement and purchase rates.
Where Does EDI Fall Into All of This?
It may not seem obvious, but EDI is poised to play a pretty valuable role for brands looking to explore these new technologies.
Here at eZCom, our award-winning EDI platform, Lingo, connects to thousands of trading partners, including online stores and online marketplaces. Those connections can potentially streamline and accelerate virtual store experiences and augmented reality purchases, just like they do for traditional eCommerce purchases. What’s more, Lingo’s ability to integrate with a wide range of eCommerce platforms and shipping systems has the potential to contribute to new shopping experiences too.
No matter what, this is a space to watch!
If you need to streamline and automate your data – reach out and we will be happy to listen and help build the perfect solution for your brand
