How VR is Impacting the Retail Industry

Virtual reality (“VR”) has been around for a while now but has only in recent years become a bigger reality for consumers. While VR is being utilised mainly by the gaming world, other industries are beginning to explore the possibility of incorporating VR as a way to boost business, and the retail industry is one of those sectors.

Due to the experiential nature of the retail industry, there are many ways the industry can benefit from incorporating VR into their business. Given recent happenings all around the world, this might be something to look at. Or even as a solution to keep up with growing consumer demands.

What is VR?

Virtual reality is a computer-generated simulation of a 3D image or environment. These images can be integrated into a seemingly ‘real’ way by a person using special equipment, like the VR headset with a screen. VR, therefore, has endless opportunities as it can ‘transport’ anyone to anywhere without them having to leave their homes. The fact that the images displayed by VR are so realistic is what has made it so popular.

VR could be used in the retail industry

1) In-store VR

Food for thought; VR can be used to make the actual shopping experience much more exciting and compelling.  Because VR is still a novel technology, the mere idea of the installation could increase customer numbers just to experience the technology. This could, therefore, increase the amount of time customers spend in-store, which can lead to an increase in sales.

2) Improved content marketing

VR not only provides endless opportunities for the physical retail shops, but it also enables retailers to create engaging content for your business’ digital marketing purposes. At the moment, adverts on social media are non-interactive, which often causes the audience to lose interest; therefore, VR adverts are a way to spark and keep the audience’s interest. If the adverts can spark the interest of the audience as well as keep them interested, they are more likely to go check out the product.

3) Creates an engaging customer experience

When it comes to the retail industry, engagement and experience are among the top priorities. If you lack either of these, your business could struggle to keep up with competition. VR can handle the issues of customer experience seamlessly. Because it offers a more interactive and customised experience. With VR’s offerings like virtual tours, customer engagement is taken to a whole new level. This is because customers are able to tour the shop without having to leave the comfort of their own home. Customers are also able to get detailed information about specific products that they may be interested in.

These technological advancements have begun to change the way we buy and sell online. It is for this reason eCommerce has the opportunity to benefit the most from VR technology. Some food for thought and worth a consideration.

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