How L’Oreal works with virtual reality to improve customer experience
Marketing budgets are shifting from traditional marketing methods to investment in more meaningful customer engagement. According to a recent Gartner report, “Today 89% of companies expect to compete mostly on the basis of customer experience, versus 36% four years ago.”
Accessibility to previously hard-to-reach technologies, like Virtual Reality, now give companies an opportunity to compete in customer experience despite budgetary challenges. For example, worldwide leader in the beauty space, L’Oréal, is leveraging 3D Stereoscopic and Kantar Consulting’s Virtual Reality to bring shoppers, retailers, and business partners in life-like proximity to new possibilities for the category. Joint planning between their New York Virtual Store Lab and the Paris HQ Beauty Lab facilitates a real-time perspective of the global beauty marketplace. Decision makers use local virtual research and insights to integrate shopper input at every stage of innovation.
Technology solutions expert Matt Szymanski has worked at Mechdyne Corporation (leaders in the creation of collaboration spaces) for almost two decades. When it comes to emerging technologies, he has seen a shift in customer expectations. Many are now expecting higher quality and availability. He attributes the ease of global Virtual Reality expansion to rapid sophistication of the technology. Szymanski explains how only recently could the same virtual environment “run on a 12 projector display at L’Oréal Paris, but then also run on the single projector display at L’Oréal New York.”