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CXO Outlook: How the E-Commerce Market is benefiting from Immersive Technology

The e-commerce industry has been growing at a significant pace over the years. The pandemic’s outburst last year came as a blessing in disguise and gave the requisite push to the e-commerce brands to grow and proliferate. However, to have a competitive edge, stocking up stuff in diverse varieties ain’t sufficient. One needs to bring about innovations in their offerings and user experience to ensure that the customers are attracted,  engaged, and stick with the brand for long. 

Need for the adoption of immersive technologies in the e-commerce industry

In order to cater to the consumer’s preferences and needs which are constantly changing, e-commerce brands need to go one step ahead than just convincing them to buy. Hence, technological adoption has accelerated and has emerged as the viable solution to achieve this very objective. While this process is still in nascent stages, it is expected that the immersive technologies will occupy a prominent place in the functioning of e-commerce brands in the times ahead. As per Research and Market’s report, the global augmented reality and virtual reality is expected to reach $1274.4 billion in 2030 and will grow at a CAGR of 42.9% from 2020-2030. The report further states that various businesses across sectors especially the e-commerce industry are increasingly inculcating these immersive technologies and will continue to do so in the future as well. 

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