How Businesses Are Getting a Makeover With ByondXR

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

We live in a very image-focused world and this is particularly true of the business world. Businesses pay top dollar to advertise on billboards, posters, online, and in any other way so that they can be seen in a favorable light. They also go through great pains to make sure that customers can get an accurate view of their products, with high-definition video and pictures. 

Now, a new firm is on track to transform how businesses advertise to their audience by providing a realistic and interactive experience for customers looking to make a purchase choice. Typically, when a consumer wants to interact with a product to make a purchasing decision, they will need to enter a store. 

With ByondXR, they can enjoy a virtual experience that still allows them to interact with product features. So far, a number of businesses, from wholesalers to retailers, have made use of ByondXR’s technology to create virtual showrooms, store simulators, and 3D visualizers to take the customer experience to the next level. Beauty industry giant Lancome is making its 16th store and ongoing around the globe with ByondXR. Given the popularity of virtual events over the last year and a half, their technology is bound to see even more use than usual. During the pandemic, 88% of event organizers had at least one virtual event and these numbers are only on track to grow after the pandemic. 

There are a number of reasons for this, including the convenience of having events with people in different parts of the world, reduced set-up costs, and more flexibility. Smaller businesses or businesses that simply want to do something creative with their customer outreach, customer experience and product advertising. 

What ByondXR Offers For the User Experience 

Founded in 2016 by industry veterans Noam Levavi and Eran Galil, ByondXR boasts of not only some of the fastest loading times in the industry but also some of the top companies in the world as clientele, including Coca-Cola KO, Calvin Klein, Proctor and Gamble PG, Target TGT, L'oreal LOR, Mitsubishi 8306, Caesarstone CSTE, and more. 

The current pandemic has meant that even more brands are looking into digital offerings and, as such, are turning to ByondXR’s roster of products. 

First, there are the XR virtual stores that allow users to interact virtually as they would a real-life store and make purchases. e-Commerce is already a trillion-dollar business but consumers have been found to enjoy the process of virtual shopping and even make more purchases. Many consumers are already making use of VR and AR in the context of video games and virtual experiences and this can be leveraged to drive even more sales. ByondXR is an industry leader in creating these 3D shoppable experiences that are most fitting for retail brands such as luxury and beauty brands. 

The company also offers XR visualiser for home decoration. Home decor is a very large industry but at the centre of this are people who simply want their homes to look better. Usually, when a consumer is shopping for home decorations, they can only mentally visualise how it will look in their homes and this mental picture is not always fully accurate. This is where XR visualisers come in; they provide a realistic visual of how everything from wallpaper to vases will look in a particular space. Customers can mix and match and essentially recreate their living space with whatever item that they are choosing to buy before they make a final purchase. 

This creates a more immersive and engaging experience for the customer and also provides a way for home accessory companies and furniture stores to draw in an audience while also driving more sales across the board. ByondXR, on its part, provides a cutting-edge 3D visualizer solution that takes this concept to the next level.

Finally, ByondXR also offers virtual showroom selections for brands and retailers. These are a convenient way for brands to display their products to prospective buyers and the convenience and interactive nature of these showrooms means that the buying process is accelerated. This can also be applied to merchandising for brands who want to design a virtual merchandising strategy. Calvin Klein, one of ByondXR’s top clients, has made use of this in recent efforts. 

Overall, the virtual showroom option has proven particularly popular with fashion and apparel companies. 

As mentioned prior, ByondXR’s efforts have not gone unnoticed and one of their biggest and longest-running partnerships has been with Lancome, who have, as of February 2021, opened a total of 17 virtual stores around the globe using ByondXR’s technology. The brand recently opened its Lancôme’s Genifique virtual in Latin America and these virtual pop-up stores are not only providing memorable and innovative experiences for users but also challenging the norms and the ways that the fashion and beauty industry interacts with consumers. 

The use of virtual shopping experiences means that brands can cut down on up to 70% of the material needed for setup and display and this, in turn, leads to a decline in waste. Should virtual experiences like this become the industry norm, the industry as a whole can work towards a zero-waste future. 

As the world is starting to re-open, shoppers will be able to fully embrace this new method of shopping and with the option of pop-up virtual stores, they can still enjoy some of the in-person experience such as duty-free shopping at airports, while still reaping the benefits of the virtual experience. 

The VR and AR sector is on track to be an over $70 billion industry by 2024 and with all its product offerings and strategic partnerships, ByondXR will certainly come out on top.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.