August 2, 2017
What the People want from Virtual Reality Shopping
“V-commerce brings the potential for entirely new shopping experiences and new kinds of added value. But there are risks for retailers — the initial investment is significant, and there are high costs for getting it wrong. Retailers need to do what they’ve always done — look to their consumers to point the way.”– Dan McKone, Managing Director at L.E.K.
Eighty percent want to use AR or VR to design a room or physical space by browsing virtual or physical showrooms, getting information about furniture and décor, and “seeing” what it looks like. Retailer Wayfair uses VR showrooms where customers can see a room come together as they fill their basket with products. Lowe’s Holoroom lets customers design a virtual room and then tour the space. Alibaba’s “Buy+” VR app allows consumers to browse and buy from the aisles of a virtual store, no matter where they are in physical space.
Seventy percent want to use v-commerce to try on clothes and accessories and to customize them. Consumers can start with an image of themselves on their smartphones, then search for the perfect shade of makeup or an eyeglass frame that perfectly suits them. The Gap and Sephora are already offering these AR applications.
Act immediately to make AR and VR a part of their digital strategy. “They’re not far out on the horizon – the time to think about them is now,” says Haslehurst.
Establish a compelling value proposition and define the business model. “Make sure customers understand from the first encounter how the technology solves their pain,” says Steingoltz. “And make sure to define the resources, concrete goals, and metrics for the project.”
Consider making alliances with technology leaders. “Retailers don’t need to be technology experts,” says Haslehurst. “Look for alliances that provide access to world-class technology and give technology makers a good story to tell.
Check back on this page frequently for updates and additions.
We’ve seen a tremendous amount of disruptive change coming from the Virtual Reality Industry. It is surely certain that this kind of content will accelerate based on trends in the future.
You most likely have some other VR ideas that can change the world! Share them with us on social media!