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3D ecommerce is on the rise but I often hear from the ecomm businesses that maybe they are not ready yet to adopt. This ofen comes from them who have not adopted 3D ecommerce yet. On the other hand, the experienced brands never say such things. Rather they look for ways to explore and adopt 3D more.
What is that thing that drives such difference in behavior? Is it simply a fear of adopting new things just because marketers do not understand its potential fully? Or is there a different reason behind it? Perhaps you have heard it too. Let's see today what are the myths that stopping ecomm brands from growing further in 2024.
Why are first time 3D adopter brands more sceptical?
In 2024, the ecommerce, especially the furniture industry realizes the importance of virtual showrooms using 3D visualization and WebAR. There's no denial of it. The marketers see the immediate growth potential as this heightens the customer experience, increase their confidence in the product quality and increases the likelihood of buying products online.
The first time movers often lacks the confidence of adopting 3D ecommerce for the following reasons. Demystifying few of those stigma can help ecomm company owners and marketers to take better decisions for their business growth.
3D adoption is costly: It could have been a truth few years ago but with ongoing evolution, this is not true anymore. The cost for building digital twins and displaying them in AR is getting less everyday. With a high ROI (10x ROI over 5 yr. period), such investment is often cheaper than big SEO agency packages. Read more here.
Too many SKUs: Ecomm brands have hundreds or even thousands of SKUs. Intially this may pose a challenge for the brands to transform digital landsacpe into 3D. In the past, photogrammetry (scanning an object to create 3D) was the only option for building digital twin which included much effort and manpower.
In 2024, digital twins can be built based on 4-6 images of a product (Marvin XR is a pioneer in that). However, brands should not plan to transform 100% of their product catalogue in the first go – especially if they are first time movers. A good strategy is to take the best selling products and convert them into 3D. Thus increasing sales of the popular items will yield confidence and back further transformation with additional revenue that comes from using 3D ecommerce.
Customers may not use it: When a brand starts using virtual try-on, it is their responsibility to make their customers aware of it. No matter how easy it is, if you don't know it, you can get benefit from it – right? Virtual try-on can be integrated in websites, landing pages, email/SMS marketing, google ads and many more places.
Constantly reminding the potential customers (and existing ones too) that such a great customer experience exists for them, can do wonder in a very short time. Remember that a global study showed in 2021 that >40% of the shoppers said they'd buy more if they can attain AR while buying.
Integration is a challenge: Often times, integration seems a bigger challenge for ecomm brands. They become worried about not to disrupt the existing site design which is genuinely valid. The easy iframing integration can enrich the existing product catalogue pages with virtual try-on feature. With iframing, the average SKU integration can take between 1-2 min each. That's a tremendous speed to introduce 3D product catalogue to website.
3D experienced brands focus elsewhere
Ecomm brands who have already experienced digital transformation growth journey with 3D ecommerc, often are not sceptical. Their focus remains on how to improvise the 3D product experience for their customers. They tend to look out for other concerns like pricing, quality, delivery speed and associated challenges. This leads to changing vendors, finding new ways to enhance the online shopping experience, focus more on KPIs to understand the customer behavior etc. These facts help them to grow faster than their competitors.
Limitation lies in minds
How to calculate 3D adoption ROI?
𝐂𝐨𝐬𝐭 + 𝐁𝐞𝐧𝐞𝐟𝐢𝐭 = 𝐕𝐚𝐥𝐮𝐞
A financial model needs to show the investment and return. It’s important to understand the potential use cases for 3D models.
Assumptions: An Ecomm brand with $5 million annual revenue decides to invest 5% marketing budget on 3D adoption. That equals to roughly $250k. Based on industry case studies, the generic sales growth observed due to 3D adoption is around 20%.
This is equal to $1 million extra revenue generating from sales annually.
On a 5 year scale $250k investment can yield $5 million excess sales for the enterprise. So the valuation of 3D models for the brand in 5 years is roughly $5.25 million.
Grow with Marvin XR
The immense potential of 3D ecommerce has just begun and it is not going anywhere. Faster adoption can benefit the business in 2024. Marvin XR can provide end to end 3D adoption journey – from building digital twin library to host in WebAR to be integrated in the websites. Such overall service, without a huge cost overhead can help brands to adopt and see the ROI faster. If you want to discover more, drop a mail to support@marvinxr.com for a free, no-obligatory discovery call.