Given the dominance of retail giants such as Amazon and Walmart in the e-commerce industry, other players are forced to rely on continuous innovation in order to remain competitive and profitable. In all aspects, 2020 has been a disruptive year, especially for e-commerce. However, COVID-19 restrictions turned out to be a massive boon for the photography industry and have sprung the widespread adoption of many new technologies, one of which is 360-degree photography.
What is 360 Degree Photography?
As the name implies, it refers to a technology that allows you to quickly create photorealistic and interactive spinnable photos of your products. This is achieved by stitching together multiple product images from all angles in order to seamless 360-degree virtual product demos. Unsurprisingly, given the high demand, you are likely to find many 360-degree photography software programs on the market.
Benefits of 360 Degree Photography
Increased Conversion Rates
Customers are more confident about buying products that they have better information on. Visuals are one of the most effective means of disseminating a large amount of information quickly to the viewer. By giving customers a complete 360-degree view of the product with the ability to zoom in on certain aspects, they can better know the exact details of what is being ordered.
Fewer Product Returns
The capabilities of 360-degree photography additionally translates to overall lower product returns.
An MSI study conducted last year found that product returns cost retailers and manufacturers an estimated $100 billion annually. The study cited giving the customer the “opportunity to examine the product and get more information about quality” as the missing component to a successful purchase that could have otherwise lowered the probability of a product being returned.
360-degree photographs are an incredibly versatile form of content, not only extremely cost-effective but also highly scalable, providing a one-stop-shop for all desired product image assets. The format is also mobile-friendly, seamlessly working across all mobile devices.
While it is easy to realize the potential of the technology in the B2C sector, one shouldn’t ignore its great impact on the B2B sector as well. Buying behavior in the later sector is changing, becoming more receptive to purchasing goods online. While the COVID-19 pandemic may have partly played a role, equally important has been the influence of innovation, such as 360-degree photography that allows for greater product information to be passed on to the user in a much more efficient and cost-effective manner for the seller.
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