What: Coresight reviews a selection of interesting immersive retail concepts.

Why it is important: While going too much tech might sound gimmicky in stores, retailers need to bridge the gap between the real world and the virtual perception of customers increasingly used to dealing with online environments.

Coresight explores how US brands and retailers plan to invest in and offer immersive experiences based on a survey. It highlights several key immersive experience trends:

1- Virtual Stores

• Virtual stores allow brands to offer engaging 3D shopping online. 61% of retailers surveyed have invested in virtual stores.

• 88% saw increased total sales and 91% saw increased online sales from virtual stores. Virtual stores also increased click-through rates, time spent, and new customers.

• Coresight estimates US virtual store sales will reach $7.1 billion by 2030, growing at a 27% CAGR from 2022.

2- Personalization

• 71% of retailers surveyed have invested in AI-enabled personalized content. This drove a 77% increase in online sales for most companies.

• Personalized content mainly increased click-through rate, time spent on site, and net promoter score. Fashion brands saw gains in new customers and conversion.

3- Gamified Experiences

• 40% of retailers surveyed have created gamified shopping experiences. These drove a 77% increase in online sales overall.

• Gamified experiences increased time spent on site, net promoter score, and average order value for most companies. Fashion brands saw higher online sales impacts.

4- Social Shopping

• 65% of retailers surveyed enable social shopping features. 78% saw increased online sales, especially non-fashion brands.

• Social shopping drove more clicks, new customers, and time spent on site. Fashion brands saw customer acquisition and higher order values.

Overall, the report shows immersive experiences like virtual stores and personalized content are top investment priorities for retailers to boost customer engagement and sales. Advanced experiences allow brands to craft more tailored and interactive shopping journeys online.

Immersive experiences in retail: Coresight’s take