We are delighted to announce that Cylindo has been named a sample vendor in the 2020 Gartner Hype Cycle for Digital Commerce.
Each year, Gartner presents the Hype Cycles for different technologies that have the potential to disrupt the future, helping businesses prioritize their investment in a specific technology to meet their goals.
According to the priority matrix published in Gartner’s latest Hype Cycle for Digital Commerce, organizations need to pay close attention to the following three technologies, as they will have the biggest impact within the next five years:
- Visual configuration
- API-based digital commerce and composable commerce
- Customer data and analytics
Visual configuration encompasses a range of visualization technologies at different maturity levels: 2D, 3D, augmented reality, virtual reality, floor space planning, and computer-aided design (CAD).
Using visualization technologies, businesses can help customers see how the product looks with the different options and features they have selected, thus paving the way for widespread adoption of digital commerce.
Product visualization is essential technology, especially for industries that manufacture highly customizable products, such as automotive, apparel, home building, and furniture manufacturing.
In the 2020 edition of Gartner’s Hype Cycle for Digital Commerce, Cylindo is listed as a sample vendor for visual configuration.
As noted in Gartner’s report, companies that implement visual configuration technologies experience significant business benefits:
- Higher e-commerce conversion rates because consumers are more likely to buy a customized product if they can see what it looks like
- Higher win rates because the product is more compelling to a customer when they can see it and interact with it. Augmented reality has the potential to be even more impactful, because the prospect can see the new product in their own home or business premises.
- Reduced need for physical samples and inventory items in sales showrooms
We’re already seeing these benefits among Cylindo’s client base. According to our data, companies that added 360-degree spin product visualization increased conversions by 27%, on average. Besides this, data from Interior Define shows that customers that engage with AR are eight times more likely to convert than customers that choose not to engage with AR.
Analyzing the catalysts that are driving the movement of technologies on this year’s Hype Cycle, Gartner emphasizes the following three trends:
- Visual experience driving engagement and conversion
- New business models and service offerings driving new revenue
- Customer analytics and privacy protection driving better customer experience (CX)
It’s clear that visual experiences will be the backbone of every successful business in the years to come.
Earlier this year, Cylindo was recognized in Gartner’s Innovation Insight for Visual Configuration (May 2020). According to Gartner, "visual configuration is a transformative technology. Organizations that are among the first to adopt it in their industry experience substantial competitive advantage and cost savings."
Even though visual configuration is a quite mature technology, when it comes to the furniture industry, many businesses lag behind. Our research shows that 35% of the Top 100 USA Retailers haven't adopted a product configurator.
Customers’ expectations are high when it comes to rich experiences, so the answer is future-proofing product visualization.
Are you ready to transform your furniture business?
Let’s talk about your product visualization strategy.
Gartner, Hype Cycle for Digital Commerce, 2020, August 2020
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