Mitsubishi Electric’s Virtual Showroom is paving the way to New Revenue Streams

In a time where e-commerce has boomed, and retailers and manufacturers are finding the fastest ways to deliver goods, consumers are becoming increasingly impatient and are unwilling to wait more than a few days to receive their packages. As 2020 sparked more digital transformations than ever before, consumer demands for instant gratification significantly increased. Meetings could be organized and held on Zoom in a matter of minutes, food delivery could be ordered through an app and with customers in 30 minutes. Consumers want hyper-efficiency for the lowest possible cost.

This demand and growth primarily resulted from Amazon’s relentless efforts as they spearhead e-commerce advancements and the overall customer experience. Their Prime service slashed wait times, and consumers could order just about anything and have it in their hands in less than 24 hours. But few retailers and manufacturers could achieve this. Amazon’s vast fulfillment centers around the world give them the monopoly on the e-commerce market, and with the workforce behind them, genuine competition is few and far between.

However, as the coronavirus pandemic hit, retailers and manufacturers were faced with huge problems that threatened to derail their future plans and destroy their revenue stream. Stores and showrooms were mostly banned from operating, leading many manufacturers concerned about how they would complete orders and continue the supply chain. Moreover, travel bans meant that buyers could no longer travel to international showrooms to view the latest products and place orders. Ultimately, everyone had to adapt to a new standard, and manufacturers needed to find a way to replicate the buying process without compromising on experience quality and realism.

Virtual Showrooms are becoming more and more popular spreading quickly between diefferent industries in the retail sector.

Mitsubishi, a multinational electronic manufacturing company, wanted to recreate their physical showroom to display their new air conditioning units accurately. Instead of sending potential buyers a grid thumbnail list of their products with detailed specifications, Mitsubishi had more creative ideas. After employing ByondXR to develop their virtual showroom, the company were not only presented with a life-like 360-degree showroom, displaying all of their products in high-definition, but their vision was elevated as ByondXR added a virtual living room space to showcase their products in a real-life environment. This interactive addition enabled manufacturers to understand the value and target demographics that each of the units would cater to. The showroom was made user-friendly and easily accessible, disclosing product details by clicking on each air conditioning unit. At the same time, television screens presented brochures, videos, and simulations of the Mitsubishi products.

The showroom brought Mitsubishi’s vision to life, enabling them to exhibit an immersive and dynamic experience for buyers and satisfying executives at the multinational corporation. Gina Larrea, Residential Sales at Mitsubishi Electric, explained, “Seeing the ByondXR team in action was truly impressive. They took on challenges in an industry that was not familiar to them and managed to execute my vision efficiently and in a timely manner. We see a tremendous value in providing a seamless interactive experience to our stakeholders and ByondXR made it happen in the best way possible.”

Bringing Mitsubishi’s showroom to life through our VR program has proven that businesses in many industries can benefit from this end-to-end sales solution and utilize it to upgrade and progress their digital efforts. As companies continue to search for innovative ways to make online buying more engaging, ByondXR has established a full-proof formula to increase engagement, conversion, and return on investment.

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