Remember when it used to be good enough, if you offered a high quality product or excellent service? It’s become much harder to get to the finish line with the same old tactics. You see, to buy or not to buy, that has always been the question. Except now, it’s so much easier to answer.

Shopping around has been redefined; the pre-buying experience has turned into a deal-breaker. In this lower growth world, trial by virtual reality has become the norm for the middle class. A score from Booking.com and some photos simply won’t do anymore. Prospective honeymooners want to ‘walk’ around in their hotel room and dip their feet in the pool, before they decide to fork out US$ 2,500 for a week’s accommodation.

Want to see which colour dress will look best for next Friday night? It’s now possible to try on all five different shades, together with accessories, without leaving your home. In fact, economists at Silberstein & Lee have estimated that VR-fitting rooms have reduced returns and handling costs for fashion retailers in Hong Kong by 40% over the last 18 months. Not to mention the drone accidents avoided!

It just goes to show, that there are benefits on both sides, for buyers and suppliers. Consumer expectations have increased considerably since the seventies when your grandpops had his corner store, but it does keep things exciting, doesn’t it?

There are opportunities aplenty for innovative merchants, but you still have to offer good quality, value, and excellent service; that goes without saying!