About Intelligent Virtual Store Design Solution
Virtual stores are online retail stores that display merchandise. Virtual stores are available for smartphone users wherein the shopper's scan barcodes of product displayed from a computer screen on their smartphones. Virtual stores offer live text chats so as to act in periods of time with customers. For instance, home plus, the second-largest virtual store in South Korea offers five hundred products as well as food, electronics, toiletries, then on at its Seolleung virtual store. Virtual store tests are cost-effective alternatives to in-store field tests. Whereas minimizing the initial capital prices, virtual store simulations deliver many added benefits like virtual store analysis, confirm customer behavior in virtual store simulations, understanding in-store behavior, designing stores, and merchandising programs that really meet the wants of customers. Virtual stores are 80th expertise and 200th commerce.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The use of computer-driven store simulation technologies to achieve business objectives is rapidly gaining momentum among consumers, manufacturers, and retailers. Intelligent virtual store design solutions offer the omnipresence of e-commerce in all channels of trade and aid in overcoming the competitive challenges of companies. Intelligent virtual store design solutions developers need to transform their technologies quickly and efficiently for sustaining in the current dynamic retail marketplace. Intelligent virtual store design solutions are used for store planning, category management, merchandising, and more. Analyst at AMA Research estimates that United Kingdom Players will contribute the maximum growth to Global Intelligent Virtual Store Design Solution market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
InContext Solutions (United States), DECISION INSIGHT (India), FIFTH DIMENSION (United Kingdom), RED DOT SQUARE SOLUTIONS (United Kingdom), VISION CRITICAL GROUP (Canada), Processia (Canada), St Ives plc (United Kingdom), Cisco Systems, Inc (United States), Dassault Systèmes (France), Mindtree Ltd (India) and Zete (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Intelligent Virtual Store Design Solution market by Type (Chat-Bot, Smart Speakers and Smart Computer Screens), Application (Consumer Packaged Goods, Retail, Consumer Electronics, Restaurant, Specialty Stores and Others) and Region.
On the basis of geography, the market of Intelligent Virtual Store Design Solution has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Singapore, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Spain, Rest of Europe), MEA (Saudi Arabia, Turkey, Israel, United Arab Emirates, South Africa, Rest of Africa), North America (United States, Canada, Mexico). If we see Market by Component, the sub-segment i.e. Solution will boost the Intelligent Virtual Store Design Solution market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption Of the Intelligent Virtual Store Design Solution
Market Growth Drivers:
Reduction In Cost of Infrastructure, Labour and Increase In Awareness About the Solution in Developing Region
Challenges:
Presence Of Competitors and Lack Of Technical Knowledge
Restraints:
Project Management Issues and Lack Of Benchmarks
Opportunities:
Technological Increase in The Solution
Market Leaders and their expansionary development strategies
In February 2023, Global management consulting and technology firm ZS has acquired Trials.ai, an intelligent study design company. The ZS | Trials.ai solution uses artificial intelligence (AI) to help clinical development teams design smarter studies, optimize the participant experience and deliver pharmaceutical therapies to market faster.
In April 2023, Obsess launched self-service virtual store builder for brands. The service has been in development for the last two years. Obsess, which has helped create more than 200 virtual stores for brands like Ralph Lauren and Charlotte Tilbury, used feedback and data from its past partners to build the offering.
Key Target Audience
Providers of Intelligent Virtual Store Design Solution, Governmental and Regulatory bodies and End-Users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.