San Francisco, Feb. 16, 2023 — Nfinite, the leader in next-generation visualization and ecommerce merchandising, partnering with Coresight Research, today announced the findings of Coresight Research’s report CGI and 3D Product Imagery: The Future of Visual Merchandising in Ecommerce. The research uncovers that retailers are bolstering ecommerce shopping capabilities with CGI and AI to deliver more personalized and visually engaging online shopping experiences.
As brands and retailers increasingly realize the benefits of using context-rich and immersive product imagery in ecommerce, the adoption of these product visuals is growing. The survey found that more than three in five (63%) brands and retailers currently use lifestyle product photos/images for ecommerce, and 58% use interactive images, putting these types of product visuals among the top three most used.
Further insights from the research include the following:
- 41% of brands and retailers find high costs challenging when managing and producing product visuals.
- 55% of brands and retailers said more than 10% of their products sold online in 2021 were returned because product visuals displayed did not match the products delivered.
- Among those investing in CGI for product visuals, almost all brands and retailers think that CGI has benefited their production and management of product visuals to some extent—with 49% reporting “significant” benefits. The topmost benefits, cited by around half of brands and retailers investing in CGI, are reduced product returns and improved speed to market.
- 40% of brands and retailers reported that they are currently investing in CGI, and 58% are planning to invest in CGI in the future, while 60% plan to invest in AI to automate visual product content.
The study also found that AI, an emerging topic in product visual creation, can multiply the benefits of CGI through automation. AI is mainly used in decision-making and to generate simple CGI models. However, as AI continues to evolve, the technology will be able to generate complex shapes and 3D models without human effort—which will become a must-have for faster CGI development, enabling brands and retailers to deliver more seamless and personalized visual experiences to consumers.
“Technology innovation is critical to online retailers as they seek to outpace their competitors and connect with consumers,” said Coresight CEO and founder Deborah Weinswig. “CGI and 3D image creation are must-haves for brands’ and retailers’ product visualization strategies, offering multiple benefits over traditional photography, including improved speed to market, product returns reduction, and increased sales conversion. The cost-saving benefits of CGI can also help brands and retailers survive in an era of macroeconomic turbulence.”
“This year, the pressure will be on ecommerce companies to turn the customer journey into a memorable and engaging process,” said Nfinite founder and CEO Alexandre de Vigan. “Immersive technologies like CGI and 3D product images will be critical to meet consumers’ growing expectations and evolving preferences. Coresight Research confirms what we see every day – innovative technologies are helping leading online retailers win in the race for consumer engagement.”
Read a summary of the key insights from the report here. Access the full report here.
About Nfinite
Nfinite is a leading e-merchandising platform that empowers retailers to grow their business and deliver better customer experiences through powerful, customizable visual content. The Nfinite Platform makes it easy to create, display, and manage unlimited product visuals using cutting edge 3D CGI technology, making high quality visual content more affordable, adaptable, and faster to create. With Nfinite, companies can deliver endless visual combinations, interactive experiences, and real-time personalized content to their customers worldwide. Visit nfinite.app for more information.
About Coresight Research
Coresight Research is a research and advisory firm specializing in retail and technology. Established in 2018 by leading global retail analyst Deborah Weinswig, the firm is headquartered in New York, with offices in London, Lagos, Hong Kong, Shanghai and Mangalore (India). The firm provides data-driven analysis and strategic advisory to clients including retailers, brands, enterprise technology companies, accelerators and more. In addition to being renowned for its breadth and depth of research, Coresight Research is known for its expertise in the China market, helping clients with market entry and cross-border ecommerce strategies. Coresight Research is also known for its Innovator Intelligence platform, consisting of a vast network of technology entrepreneurs that it actively cultivates through events, mentorship, and regularly updated report coverage. For more information, visit www.coresight.com.