AR and VR experiences: Are these technologies the future of retail?

 A survey of 6,000 consumers and 500 business leaders in medium-sized e-commerce companies across Europe and the United States done by Storyblok. 

The study revealed a gap between what companies think consumers want and what they actually demand from websites. 

 The biggest difference of opinion was about chatbots. 70% of UK businesses said chatbots improved the customer experience – only 22% of consumers said they saw a benefit. 

When asked what are the most important future trends  in marketing to improve the consumer experience, 26% of UK companies rate AR and VR as the most important. 

Consumers were more skeptical, however, with only 32 percent admitting it would encourage them to buy, and 24percent saying they didn’t know. Americans were much more enthusiastic, with 57% of consumers saying it would help them make a purchase decision. 

Other important trends cited by business leaders were personalization (21%), AI-generated content (24%) and automation (17%). 

 Dominik Angerer, CEO and founder of Storyblok, says, “Businesses are eager to add more functionality to their website, but  consumers aren’t sharing it—at least not yet.” 

 “It’s important for businesses to constantly ask themselves if the features they add to their websites really improve the customer experience. More isn’t always better, and  our research clearly shows  that businesses can’t forget the basics of good design . clear navigation and fast loading speeds.” 

• When asked what are the three most important factors  in an online experience, 60% of consumers said ease of navigation, 42%  simple design and 41%  visual appeal. 
• In contrast, only 28% of companies listed improving  their website design as their top priority, and 36% said they would add  features. 
• 45% of companies would increase payment options, but this was not as problematic for consumers, as only 23% cited limited payment options as the reason for abandoning a purchase. 
• Consumers and businesses alike agree that fast download speeds are critical. 42% of consumers said they decide  to stay  or leave a website within ten seconds, compared to 24% within five seconds. 
• 46% of businesses said that improving  website load time is a top priority.