European Retailers Plan to Invest in Sophisticated Imagery Capabilities in the Future
San Francisco, May 10, 2023 — Nfinite, the leader in next-generation visualization and ecommerce merchandising, partnering with Coresight Research, today announced findings of research that examined the differences in product imagery sophistication between brands and retailers in the United States and Europe.
The study reveals that U.S. retailers are utilizing more advanced product imagery than their European counterparts, with a higher proportion of U.S. brands and retailers employing context-rich imagery (73% vs. 52%) and testing image performance (74% vs. 60%). However, European brands and retailers recognize the importance of utilizing these advanced imagery capabilities to resonate with consumers and plan to invest in them.
The success gap between U.S. and European brands and retailers in utilizing 3D and CGI technologies can be attributed to the higher investment made by U.S. brands and retailers in these areas (42% vs. 39%). This has enabled them to better leverage image customization, A/B testing, and immersive experiences in their business strategies. U.S. brands and retailers are more likely to report significant benefits from these technologies, with 44% citing profitability as a key advantage, compared to only 28% of European retailers.
Lack of knowledge and partnerships can impact retailers’ success rates when using CGI for product visuals. 47% of European brands and retailers lack knowledge compared to 38% of their U.S. counterparts, highlighting a need for education and better partnerships to achieve optimal results.
“Technology innovation is critical to online retailers as they seek to connect with consumers, and those adopting CGI and 3D image creation are seeing results,” said Coresight CEO and founder Deborah Weinswig. “Our research indicates that US brands and retailers are more willing to adopt and employ advanced product imagery technology, such as CGI, than their Western EU counterparts. As a result, U.S. brands and retailers are seeing more success with CGI across their online merchandising strategies. CGI and 3D image creation are critical for online product visualizations, and we are starting to see the real impact they can have on driving sales conversion, reducing the costs to create and manage product visuals, improving speed-to-market and reducing product returns.”
Despite the gap, both regions have similar plans for future investments in sophisticated imagery capabilities. European brands and retailers plan to invest more in interactive images than those in the U.S. (65% vs. 48%).
“Although there is a gap in product imagery sophistication between U.S. and European retailers, both understand the significance of using more advanced imagery capabilities that appeal to consumers and ultimately convert,” said Nfinite founder and CEO Alexandre de Vigan. “As the retail industry continues to evolve, CGI and 3D image creation will become critical to achieving the level of engagement and interactivity consumers demand.”
You can 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 e-commerce 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.