Nfinite, the leader in next-generation visualization and e-commerce merchandising, today announced the second in a series of findings of its independent research into the opinions and expectations of retail executives around online product imagery in e-commerce and consumer engagement.
A key research finding highlights the shift from costly and cumbersome traditional photography to next-generation computer-generated imagery (CGI) and 3D visuals.
Retailers face significant challenges with product image creation
While over 86% of respondents have an annual photography budget of over $500k and over one-quarter are responsible for a budget of over $1 million, the majority are hampered by the limitations of traditional photography in today’s rapidly evolving e-commerce environment. 96% report challenges with product imagery creation. Challenges include the following:
- Two-thirds (68%) report they often go over budget on photo shoots
- 55% said products change rapidly, and images are quickly obsolete
- 39% said it was challenging to have enough image options across all channels
CGI and 3D Imagery adoption is expected to drive e-commerce performance
Data shows that retailers plan to increasingly invest in CGI technologies.
- Today, 38% of respondents say they use CGI extensively
- 52% of respondents plan to invest in next-generation product imagery in 2023
CGI and 3D imagery are expected to increase top and bottom-line business performance
The independent research shows far-reaching advantages in the move away from traditional photography to next-generation CGI and 3D Imagery. They included:
- Increase purchase conversion rates [57%]
- Optimize promotion of specific products to match availability [28%]
- Lower image creation costs [40%]
- Generate many more images per product [40%]
- Reduce the carbon footprint of a traditional photo shoot [36%]
- Lower product return rates [29%]
Said Nfinite founder and CEO Alexandre de Vigan, “This research validates our value proposition to retailers–we find replacing traditional photography with CGI and 3D imagery improves business outcomes while reducing costs and increasing efficiency. There is a reason 3 of the 5 top global retailers partner with Nfinite. Next-generation product imagery is transforming their e-commerce outcomes which can be measured in increased traffic, engagement, and sales.”
A total of 104 qualified individuals from the United States completed the survey conducted by Dimensional Research. All were VP or C-level executives working at a retail company with more than 1,000 employees. All had responsibility for online sales, with decision-making responsibility for product images or e-commerce merchandising.
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.