April 29, 2023
Enterprises initiating retail software development incorporate VR in their projects to build a profound emotional connection with a customer, increasing their loyalty and trust. Below, we break down the concept of VR in retail and provide its use cases, examples, and business benefits.
Virtual reality is becoming more widespread across many industries, and retail is no exception. Here are some numbers and facts that highlight the emergence of VR in retail.
The global VR in retail market is projected to reach $5.455 billion by 2028, growing at a СAGR of 13.82% from 2022-2028
Valuates Reports
32% of consumers used VR to test and purchase products; 19% used VR to buy luxury goods
PwC Research
Almost 60% of consumers prefer at least one activity in the immersive world versus the physical alternative
McKinsey
79% of consumers active on the metaverse have purchased real-world products there
McKinsey
Here are the main applications of immersive technology in the retail industry, some of which imply the combination of VR and AR.
Let’s look at four VR use cases that have radically changed customers’ journeys and business workflows.
With VR, a retailer can deliver outstanding customer experiences beyond real-world capabilities, which is a competitive advantage. Retailers can also generate different types of interactive content to encourage customers to buy more or provide them with entertainment and leisure.
VR and AR help retailers improve store performance and employee productivity. For instance, customers can use AR apps to quickly find product locations or check product info without turning to a human specialist. Meanwhile, physical store employees can focus on more critical tasks like marketing and in-person sales.
VR devices collect large amounts of data that help retailers get a clearer picture of their audience and better understand their behavior, especially if complemented with artificial intelligence. Therefore, VR technology enables various marketing techniques, such as virtual advertising, which helps retailers run effective and engaging marketing campaigns.
Virtual or augmented reality can bring an additional sales and revenue channel. Since the number of VR and AR users grows yearly, retailers can use immersive technologies to expand their customer bases, foster online sales, and ensure stable business growth.
VR adoption is also riddled with several challenges. Learn how to solve them and use VR as a viable tool for digital transformation in retail. Â
Challenge
Solution
The average VR project requires rigorous 3D modeling, experience design, software development, and thorough usability and performance testing. All these factors make VR projects quite costly.
An experienced end-to-end VR development provider can help you design and build a bespoke solution tailored to your needs and optimize the project costs in advance.
Challenge
Solution
Another reason why retail businesses balk at adopting VR is customers’ unawareness of the technology. For example, customers, especially those who are not tech-savvy, may feel anxious about the hardware and VR-enabled experiences.
Education is the key to dispelling customers’ apprehensions. By providing a detailed demonstration of how to handle headsets and controllers and use all the features of a VR app in an engaging and accessible way, the brand can ease end-user concerns and ignite their interest in immersive experiences.
Challenge
Solution
VR user experience is also a concern for retailers, as the technology is infamous for causing motion sickness and fatigue.
Retailers can provide short VR experiences, no longer than 20 minutes, to minimize fatigue risk.
When working on AR and VR projects, developers use specific technology for creating and providing immersive experiences.
ARKit and ARCore are software development kits (SDKs) developed by Apple and Google, respectively, for supporting augmented reality (AR) experiences on mobile devices. They are the default (and usually the best) starting point for AR development, which targets mobile platforms.
Project design
Developers specify software requirements to plan a practical and future-proof VR solution.
3D content creation
VR simulation is just an empty shell without quality and engaging content, so developers proceed with its creation early on.
Moving from 3D to VR
Developers use ready-made 3D graphics to create a full-fledged virtual reality and add sounds and other environmental elements.
Testing and release
Finally, developers conduct multiple technical and user acceptance tests before releasing the VR solution to the market.
Here are several professional recommendations to help retailers ensure successful VR adoption.
The retail industry is no stranger to VR. Over the years, immersive applications have been making in-store and online shopping experiences fun and memorable, helping brands stand out and drive consumer loyalty. Although obstacles to VR adoption still exist, they are minimized due to the technology's advancement and growing expertise. So if you're ready to transform your retail business and offer a VR shopping experience to your customers, Itransition experts can ensure a smooth VR adoption.