Walmart Tests V-Commerce: a Hybrid Shopping Experience that Combines Physical and Virtual Elements
Walmart, the world's largest retailer, is experimenting with a new way of shopping that uses immersive technologies such as virtual reality (VR) and augmented reality (AR) to create realistic and engaging experiences for customers.
Virtual commerce, or v-commerce, is a term that describes the use of VR and AR to simulate or enhance the shopping process. Customers can use VR headsets to browse and buy products in a virtual store, or use AR apps to see how products look in their homes before purchasing them.
Walmart has been investing in VR and AR for several years, and has launched several initiatives to test and develop its v-commerce capabilities. For example, the Walmart VR Academy is a training program that uses VR to teach employees about customer service, merchandising, and operations.
In an official blog the company said, "At Walmart, we see the growth and expansion of increasingly immersive virtual worlds as not only a chance to develop new ways to meet and engage with our customers, but also an opportunity to experiment with a new type of commerce, where customers can not only continue buying virtual goods, like clothing for their avatar, but now their real-world counterpart."
It further added, "Given that almost 90% of the U.S. population lives within 10 miles of a Walmart store, we also have an opportunity to connect their physical and virtual lives in a way that only Walmart can. Over the next year, you’ll see us test a variety of experiences in virtual worlds that connect to commerce at stores and vice versa. In fact, we’ve already begun."
According to Citi, the metaverse will generate a huge amount of commercial activity, ranging from $8 trillion to $13 trillion by 2030, and will attract about five billion users.
The Walmart VR Store is a prototype that allows customers to shop in a virtual version of a Walmart store, where they can interact with products and services. The Walmart AR Scanner is a feature that lets customers scan products with their smartphones to get information, reviews, and recommendations.
In an official blog the company said, "At Walmart, we see the growth and expansion of increasingly immersive virtual worlds as not only a chance to develop new ways to meet and engage with our customers, but also an opportunity to experiment with a new type of commerce, where customers can not only continue buying virtual goods, like clothing for their avatar, but now their real-world counterpart."
It further added, "Given that almost 90% of the U.S. population lives within 10 miles of a Walmart store, we also have an opportunity to connect their physical and virtual lives in a way that only Walmart can. Over the next year, you’ll see us test a variety of experiences in virtual worlds that connect to commerce at stores and vice versa. In fact, we’ve already begun."
According to Citi, the metaverse will generate a huge amount of commercial activity, ranging from $8 trillion to $13 trillion by 2030, and will attract about five billion users.
The Walmart VR Store is a prototype that allows customers to shop in a virtual version of a Walmart store, where they can interact with products and services. The Walmart AR Scanner is a feature that lets customers scan products with their smartphones to get information, reviews, and recommendations.
According to Walmart, v-commerce can offer many benefits to customers, such as convenience, personalization, inspiration, and fun. V-commerce can also enhance Walmart's omnichannel strategy, which aims to provide a seamless and integrated shopping experience across different platforms and channels. By combining physical and digital elements, v-commerce can create a hybrid shopping experience that leverages the best of both worlds.
Walmart is collaborating with various partners and stakeholders, such as technology companies, content creators, and academic institutions, to develop and improve its v-commerce capabilities. Walmart is also investing in research and innovation to explore new possibilities and opportunities in this emerging field.
Walmart is optimistic about the future of v-commerce, and expects it to become a mainstream and popular way of shopping in the next decade. Walmart is committed to providing its customers with the best and most innovative shopping experiences possible, and believes that v-commerce is a key part of its vision.
Disclaimer:
Walmart is the registered trademark of the e-commerce brand.
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About ChannelMAX.NET:
ChannelMAX offers Amazon Repricer that runs on the latest AI Repricing algorithm to do Amazon Pricing Management or Amazon Repricing. Based on Amazon SP API, the repricing engine or repricer runs 24/7 and efficiently manages Amazon prices to maximize your BuyBox with profit optimization. Established in 2005, ChannelMAX has been integrated with Amazon technology since 2007, helping thousands of third-party sellers on various eCommerce platforms. Some of the eCommerce platforms, aka marketplaces, supported by ChannelMAX.NET, are Amazon, Walmart, eBay, and Shopify. Some of ChannelMAX key offerings include ChannelMAX Amazon Repricer, 2ndly, ChannelMAX Amazon FBA Audits and FBA Refunds management, an offering for managing Amazon FBA Refunds Reimbursement management for lost or damaged or misplaced inventory for which Amazon is responsible and for which sellers deserve appropriate credit reimbursement from Amazon. ChannelMAX Services offer Remote (aka Virtual) Full-Time eCommerce Assistant to help 3P sellers run their daytoday business.
Check ChannelMAX at Amazon Selling Partner Appstore, an application with a 5 star rating.