Context
The Current E-Commerce Landscape
What this analyzes: the advantages and disadvantages of today's one-dimensional e-commerce for consumers and vendors - and, clearly delineated, what the Elysium platform adds for each.
Consumers
Works today
- Convenience
- Access to reviews and ratings
- Good pricing
Where it fails
- Overloaded with choices
- Interaction primarily one-directional
- Restricted predictability based solely on shopper history
- Cannot try on items before buying, causing a high rate of returns
- No social interaction
What Elysium adds
- Shop with friends & family virtually
- Items searching for you - superior consumer/merchandise match
- Try items before purchase through your avatar
Vendors
Works today
- Global reach
- 24/7 sales
- Scalability
- Seamless inventory
Where it fails
- Intense competition
- Low customer loyalty
- Lack of physical interaction leads to lower customer engagement and high cart abandonment
- Little ability to gauge consumers during shopping and induce them to find and select the items they are pre-disposed to buy
What Elysium adds
- Reduced marketing costs - item-seeking consumers arrive pre-matched
- Reduced marketing and overhead
Platform
The Elysium Solution - The AI Brain (Elly)
The Elysium Smart Mall is designed to retain the advantages offered by modern e-commerce while reducing or eliminating the disadvantages. Its social media functions create an opportunity to shop in groups.
Enter the Smart Mall
Shoppers sign in and enter the Elysium Digital Smart Mall, where each shopper is represented by a lifelike avatar. After indicating what products they are looking for, each shopper is met by storefronts displaying these items as they walk through the virtual mall.
Elly reads the moment
As each product is displayed, the Smart Mall's AI brain (Elly) collects biodata from the shopper's sensory reactions - hundreds of variables including pupil dilation, voice modulation, facial expression, and stature changes - and interprets this data into a profile of the product features that excite centers in the shopper's brain.
The mall responds
Based on that profile, the various stores in the Smart Mall display suggested products fitting each individual shopper - increasingly more likely to please, and to be purchased.
Two engines, one mall
The Smart Mall - eCommerce × Social Media
eCommerce - for consumers
- Variety of vendors
- Can try on items, which reduces returns and saves time
- Voice-controlled and interactive
- Receives a flow of suggestions that interprets physiological changes and word data - appearing to “read the mind” of the shopper by anticipating needs in real time and enhancing each shopper's decision paradigm
eCommerce - for vendors
- Receive real-time data on shoppers' reactions to products during shopping - an advanced AI tool that substantially enhances matching the shopper with the most ideal items, which induces purchase
- By letting shoppers try on items before buying, saves considerable cost on returns
- Cart abandonment reduced dramatically because point-of-sale satisfaction is dramatically higher
- Improves market exposure - products marketing themselves - without expanding brick and mortar
Social media - for shoppers
- Walk through a virtual mall and visually/auditorily interact with friends, family, or other shoppers
- The system makes purchase suggestions at display windows, letting the group discuss displayed items in real time
- Shoppers can record their shopping experiences and discuss them later with fellow shoppers
- The Smart Mall can arrange multi-group collaborative shopping and a continuous spectrum of social interaction via video, audio, and recording
Social media - for vendors
- Encourages consumer purchases by adding the one element not available in the current e-commerce landscape: immersive social interaction