The next item you try on at the mall might be a virtual reality
headset. VR is branching out from video gaming to new industries like amusement
parks, movie theaters and classrooms. The technology presents a huge
opportunity for retailers as they try and lure shoppers into their stores,
especially since online shopping has become so huge with consumers. Big names
like Ikea, Lowe’s, Toms, and North Face have already started to implement
virtual reality shopping methods to boost their brands ad to make shopping more
fun. For example, Lowe’s has added a new twist on shopping for and remodeling
kitchens. The home improvement chain has installed virtual reality rooms that
let consumers see a 3D mock-up of their renovation plans.
The virtual reality industry is still in its very early
stages, however annual revenue is forecasted to grow from less than $1 billion
to $30 billion by 2020. Analysts do note
that companies have to be innovative in the way they implement virtual reality
technology in retail stores to avoid a gimmicky feel among shoppers.
As the VR industry continues to grow, it will be interesting
to see how it is implemented in retail settings and what industries will be affected.
Retailers have to think of new and innovative ideas fast to compete with the
huge online retailers that are keeping people at home and out of stores.
The virtual reality industry will extremely interesting to follow over the next few year. It has a bunch of potential and seems like it can make shopping much easier, especially in terms of things such as home development, like you pointed out.
ReplyDeleteI curious how expensive this technology is to implement and am curious to see the creative ways businesses implement it to attract customers. I feel like this is something people have been aware of for a while, just maybe now we have the technology to make it not so costly. It could be another wave of something that seems to have promise but may not pan out to be that useful. However, I doubt thats true, using 3d technology for designing of buildings and structures, like a renovation to a new room could be very handy. It may well stretch far beyond what I imagine its use to be too.
ReplyDeleteI think that bringing VR into the retail industry is a very cool idea. I believe that this has the potential to change the consumer shopping experience for the better. People will feel more confortable buying something that they ‘experience’. VR is going to be the future as one can see with the expected forecasted sale growth. I
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