VR and AR - The Future of RetailEscrito por Tony Dillistone el 03/10/2017 a las 13:43:13
It is no secret that retailers worldwide are facing significant challenges, in large part due to ecommerce and changing consumer shopping behaviors. Online shopping is often less expensive, is more convenient and provides the shopper the ability for easy research and comparison of products. Based in part in these challenges, Fung Global Retail & Technology, has predicted 9,452 store closings in North America this year, up 53% from the number that closed their doors in the recession of 2008.
In hopes of offsetting retail defection and store closures, a growing number of companies are implementing burgeoning Virtual and Augmented Reality solutions to create engaging digital shopping experiences in their brick-and-mortar locations.
(Image via The New York Times)
Mark Zuckerberg has suggested that VR/AR are the next logical steps in how we’ll interact with the world. To differentiate between the two, as they apply to a retail setting, Virtual Reality solutions can place the shopper in an environment the retailer creates, engaging them in a 3D experience that can combine a brick-and-mortar “feel” with the convenience of digital shopping.
On the other hand, Augmented Reality (which gained popular attention with Pokémon Go) is typically less expensive and more mobile than VR, allowing it to reach more customers, based on solutions that overlay information and graphics on the real (rather than a virtual) world. AR can allow retailers enhance their customers’ retail experience by adding a digital layer to provide improved communication, deeper engagement and “better” personalization, effortlessly giving the shopper the right information at the right time. L’Oréal’s YouCam Makeup app and The Gap’s Virtual Fitting Room are good examples of retail AR usage.
The retail industry is expected to spend $1 billion this year worldwide on VR/AR solutions, increasing to $38 billion by 2020.
The reasons for implementation are compelling:
VR and AR applications can change everything, offering completely new channels and platforms for retailers. Retailers can leverage the apps to create an immersive and fresh experience to market products, services, and more… potentially building foot traffic to brick-and-mortar outlets.
As shoppers become more accustomed to the idea that VR and AR can improve their shopping experience, it’s likely that we’ll see greater integration between the digital and face-to-face experiences. The possibilities are truly endless, and we have only just begun to explore.
VR And Advertising Revenue Potential - Show (Virtual) Me The Money!
Wearables - à Votre Santé (To Your Health)