Shoppers are a quickly evolving group. They love what they love when they love it. When they don’t love it anymore…sales drop. To keep up, retailers have had to evolve as quickly. In keeping ahead of the curve, retailers are exploring the use of virtual reality in improving sales; not just in-store sales, but online e-commerce sales as well, where there is no “brick-n-mortar” experience to improve upon.
“Consumer demand for a better shopping experience is ever increasing. E-commerce and digital marketing enable consumers to buy products conveniently online and offer consumers the opportunity to rate, review, and share the information of products and services” – Khin Sandi Lynn, Industry Analyst – ABI Research.
According to ABI Research, the addition of virtual reality to the retail experience is set to generate $1.8 billion in revenue by 2022. Two companies that have adopted early, and successfully deployed virtual reality are Ikea and Lowes. It has enabled their customers to visualize furniture and projects before any purchase is made. There are many other companies currently exploring the use of virtual reality. Automotive companies are offering virtual test drives and travel companies are offering virtual tours.
Walmart and Alibaba are also getting in on the virtual reality trend to improve their customer’s shopping experiences. This is indicative of the importance of this new tool to the retail shopping experience and should be important to every retailer.
The new Adidas NYC Flagship at 565 Fifth Avenue is the biggest Adidas Store ever. Inspired by an American football stadium and with four floors to explore, fans can craft the lifestyle represented by one of the most iconic global brands. In December, the Adidas NYC Flagship VR Experience debuted at the Adidas HQ in Germany.
– Director – Dominic Haydn Rawle
– Director of Photography, Editor – Sam Baumel