VividWorks recently completed a study on the impact the VividPlatform augmented and virtual reality solutions have on the consumer path to purchase and on the businesses bottom-line. According to the results of the study which was based on consumer interviews as well as measured and client estimated business performance, enabling consumers to visualize products as part of their own homes:
Increases Traffic 40%
- Depending on promotion increase in traffic 20%-40%; Up to 600% when include in ATL advertising.
- Within 6months over 10% of customer using the application; 40% using application within year.
Improves Engagement 10x
- Consumers evaluate products up to 21minutes on web-site.
- Avg. Time on site 2:52 => 11:49
- Avg. ”Page views" 5.71 => 84.96
- Avg. Returning visitors 15.5% => 52.4%
(same purchase cycle)
Increases Conversion to 59%
- Reduced average 4.6 store visits to 1.7 visits before purchase.
- Increases the close-ratio from 24% to 59% for visualisation users.
- 2x higher first-visit close-ratio
- 2x higher percentage of be-backers
- 40% of consumers already prepared before visiting store
15% Sales Increase
- Purchase time reduced 50%.
- 3.5%-5% increase in sales in the first 6months *
- 10.3%-14.7% sales increase in the following year *
- Average 23.5% increase in order value.