If the lockout has shown businesses anything, it's the strength of ecommerce combined with virtual shopping experiences. Despite the interruptions caused by the COVID-19 epidemic, shops have thrived with the assistance of virtual selling. As a result of all of this, internet shopping's market share has increased. Live video shopping is expected to be worth more than $90 billion in Lebanon alone, with potentially major ramifications for Virtual Business Lebanon. Virtual shopping has progressed from a nice-to-have feature to the next big thing to boost the retail experience.
Since its inception in the retail environment, ecommerce has been gradually developing. Despite the arrival of next-day delivery and mobile shopping, traditional retailers remained to dominate the industry. With a $4.4 trillion market share, brick-and-mortar transactions still accounted for 90% of retail purchases in 2019. But everything changed overnight.
The COVID-19 epidemic has wreaked havoc on the retail scene, forcing physical establishments to shut or drastically reduce their operations. As a result, retail has experienced a fast channel shift, with practically all transactions, except those for necessities, taking place online. As companies have adapted to changing conditions, an increasing number have recognized the value of Virtual Retail Stores Lebanon and have turned to OVRLebanon to enable more engaging online shopping experiences.
Virtual shopping has found success in a variety of retail businesses, from clothing companies like rag & bone to cosmetics companies like Deciem and Credo Beauty, which use their own virtual styling tool on their website, such as Matterport in Lebanon.
The COVID-19 problem has even prompted premium companies like OVRlebanon to understand the importance of virtual shopping experiences, launching 3D Modeling Lebanon, a service that connects consumers with workers in a studio built to resemble different places in the country. In the face of store closures and widespread uncertainty, businesses are increasingly resorting to virtual shopping to bridge the gap between online and in-person buying experiences—and it's working.
We've observed a 42 percent increase in sales from consumers who used OVRlebanon's virtual shopping function compared to the previous year. What we're witnessing is a lasting shift in how people buy as well as how companies sell.
Business Name /Contact Person: oVRlebanon
Street Address:- Damascus Highway
Postal Code: 1003
Phone No: +96170386621
Email: [email protected]