Experts state that the pandemic had a significant impact on the high level reached by online shopping, and this rapid growth is predicted to continue even as the social impact of the pandemic begins to wane today, and in the future.
Neuromarketing Specialist Dr. Lecturer Selami Varol Ülker, explaining that the retail e-commerce sector benefits from virtual reality technology-based solutions in various ways, said, “The widespread adoption of virtual reality (VR) technology and the relatively easier accessibility of related devices also offer new opportunities for shopping in the digital environment.”
Head of Üsküdar University Neuromarketing Department, Dr. Lecturer Selami Varol Ülker, evaluated the impact of digital platforms on consumer behavior.
Retail sales shifted from traditional shopping channels to digital and online channels
Noting that retail sales activities are shifting from traditional shopping channels to digital and online channels today, Dr. Lecturer Selami Varol Ülker said, “By 2026, e-commerce’s share of all retail sales will reach 24 percent. The pandemic period has had an undeniable impact on online shopping penetration reaching this high level.”
Rapid growth experienced during the pandemic is expected to continue
Dr. Lecturer Selami Varol Ülker noted that in the first quarter of 2020, when the pandemic manifested globally, the US e-commerce sector experienced as much growth as it had in the previous 10 years. He added, “However, this rapid growth experienced during the pandemic is predicted to continue today, as the social impact of the pandemic begins to diminish, and in the future.”
Virtual reality (VR) technology offers new opportunities for shopping
Stating that virtual reality technology can be argued to be the leading technology in online shopping today, Dr. Lecturer Selami Varol Ülker explained the following:
“The retail e-commerce sector can benefit from virtual reality technology-based solutions in various ways. In addition to now-traditional 2-dimensional digital environments like websites, the widespread adoption of virtual reality (VR) technology and the relatively easier accessibility of related devices also offer new opportunities for shopping in the digital environment.
One of the application areas where virtual reality is present in business life is considered to be shopping, and retail in particular. Providing consumers with a more engaging shopping experience, effectively managing sales processes to save both the institution and the customer time and money, and increasing brand awareness and loyalty can be listed as the prominent opportunities of virtual reality.”
Apparel, furniture, and home decor sectors use new technologies in e-commerce
Dr. Lecturer Selami Varol Ülker explained that the prediction of these technologies reaching 2 billion 593 million users by 2027 validates the investments made by major companies in the retail sector in this field, stating, “With the support of these high penetration rates, the global retail virtual reality market is expected to reach a value of 5 billion 455 million dollars by 2028. Leading companies, especially in the apparel, furniture, and home decor sectors, have been the driving force behind the use of these new technologies in e-commerce with their investments.”
Three-dimensional and interactive product visualization for online shoppers
Dr. Lecturer Selami Varol Ülker reminded that an article published in Forbes magazine in 2020 underlined that virtual reality technology can offer the ability to decide whether a product is suitable in size and style for the customer, in a way that traditional online environments like websites cannot. He explained, “An increasing number of retail companies are utilizing three-dimensional and interactive product visualization for online shoppers. Although the results of pioneering studies claiming to measure the impact of 3D virtual reality applications and compare them with 2D digital media do not show consistency, recent studies emphasize the prominence of virtual technologies thanks to contextual changes such as the development of these technologies and their penetration into daily life.”
The impact of virtual reality on consumer behavior in terms of informativeness and entertainability
Dr. Lecturer Selami Varol Ülker explained that virtual reality technology-based solutions are stated to be able to enrich the shopping experience beyond in-person shopping in the future shopping ecosystem, adding, “Another area of consensus in research on the effects of virtual technologies on consumer behavior is the values consumers attribute to virtual technologies. Past studies show that the informativeness and entertainability dimensions stand out regarding the impact of 3D virtual reality on consumer behavior. These dimensions are observed to align with hedonic and utilitarian shopping values.”
Reflections of hedonic and utilitarian consumption in emerging online technologies…
Dr. Lecturer Selami Varol Ülker also explained that while all the aspects offered to consumers in a retail environment—fantasy fulfillment, perception of freedom, sensory experience, and positive emotions—provide a high hedonic shopping value, utilitarian shopping value is observed to be more related to cognitively driven consumption and the functional outcomes of consumption. He concluded by saying, “The reflections of hedonic and utilitarian consumption in emerging online technologies have also been the subject of current academic studies. Findings have shown that consumers experience positive emotional processes such as enjoyment and hedonic experiences in VR environments. Furthermore, the inclusion of efficiencies in VR environments, such as the ease of locating products with attractive visuals and offering time savings, also leads to the conclusion that it can positively influence the level of utilitarianism.”