Virtual Reality, a trend in the Retail sector

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With the evolution of technology and the widespread use of the internet and mobile devices, digital and new technologies are beginning to be one of the main channels of innovation in this market . In addition to the expansion of e-commerce , which has emerged alongside new exclusively online stores or hybrid models of traditional businesses, other technologies are also beginning to emerge that will impact this sector.

We are talking about Virtual Reality (VR) and Augmented Reality (AR) , two technologies that will transform the consumer experience inside and outside the store, as well as other areas of the company such as human resources, marketing or logistics.

According to Goldman Sachs , this is a market that will be worth 1.6 billion dollars by 2025 in retail alone, while ABI Research expects a turnover of 1.8 billion in retail and marketing in 2022. Walker Sands states that two thirds of internet users will be interested in Virtual Reality, as well as 63% believe that this technology will influence the shopping experience.

Although Virtual Reality is only in its initial phase of implementation in kenya whatsapp number database sector, several brands and users are looking at this technology with great enthusiasm, focusing on what positive things it can bring to the sector.

But, before we develop this topic, let's understand what Virtual Reality is and how it differs from Augmented Reality.

What is Virtual Reality?

Virtual Reality is an interface in a virtual environment that simulates the real world to provide an immersive 3D experience . By simulating sound, visual and tactile effects, the user is able to believe that interactions occur in the real world, creating total immersion in that simulated environment .

Virtual Reality vs Augmented Reality

Although they are often confused, there is a big difference between the two concepts.

Virtual reality consists of a simulation or recreation of reality environment , which results from the use of interactive computer technology.
On the other hand, Augmented Reality is based on superimposing digital objects on the real world. To do this, all that is needed is software and equipment capable of reading the images (markers) in the real environment and displaying the corresponding digital objects. This interaction can generally be done using applications installed on a tablet or smartphone with a camera.

In practice, Virtual Reality can often be found in games or interactive simulators (such as the virtual recreation of the Berlin Wall), and Augmented Reality is very present in games and decoration applications. Examples include Pokemon Go and the Ikea app , which allows you to view furniture in your home before buying it.

What are the benefits of Virtual Reality in retail?

• Enables an interactive and personalized experience - With Virtual Reality, retailers can simulate an immersive environment that allows the customer to have a perception of the product in the real world.

• Reduces the return rate - With the possibility of observing and testing products through Virtual Reality, customers can better understand the advantages and disadvantages of products, thus reducing the need for returns.

• Allows you to collect analytical data - Since customers will interact with products or spaces in a virtual system, it is possible to collect data and understand which points are most and least relevant in the customer's purchasing experience.

• Allows for a more efficient form of training for employees - With the simulation of case studies in a virtual environment, it is possible to train employees with real situations and understand their reactions in real time.

Is your business ready to embrace Virtual Reality?

With Virtual Reality slowly arriving, there are some things you can already check in order to facilitate the implementation of virtual reality:

• Analyze the connection between your physical and online stores - Before considering adopting virtual reality, it is important to ensure that the connection between your online and physical stores is secure and aligned. It is important to maintain a strong foundation in existing platforms before implementing new technologies.

• Determine the advantages of virtual reality for your business - Before thinking about implementing virtual reality, it is important to analyze and understand your customer's purchasing journey, in order to identify whether the use of artificial intelligence is possible and useful.

• Explore existing virtual reality trends - If you think it's time to start applying this concept or if you want to be an early adopter in your area, start by understanding what is already being done in this area.

Who already uses Virtual Reality?
Walmart and employee training
Walmart uses virtual reality to help select employees for management positions. Using Oculus Go VR , the company simulates various scenarios to find out how employees will react to different situations.
Toms and your customer's shopping experience
Toms is a shoe business that develops a one-to-one gift concept . That is, every time a customer buys a pair of shoes from this store, they are offering another pair to children in developing countries.
In order to offer its customers the possibility of experiencing the results of their purchase, Toms designed a Virtual Reality application that allows them to experience the delivery of the second pair of shoes to children in Peru.