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A wave of virtual reality content is hitting the market this year and consumer adoption could quickly follow, bringing with it growing demand for shopping experiences using the technology, according to a new report from the Center for Advancing Retail & Technology.
The report, Retail Innovation: U.S. Retail Technology Insights and Analysis, insists that many retailers are still struggling with integrating mobile into their strategies even as the pace of technological innovation speeds up. As a result, many retailers will be unprepared for the shift to virtual reality.
“Few people in the retail industry understand how the world has changed as technology driven innovation accelerates,” said Gary Hawkins, CEO of the Center for Advancing Retail & Technology. “Change happens increasingly fast, especially with technologies like AR and VR which are great examples of how consumer technology adoption forces retail to adjust and adopt.
“Retailers need to be watching very closely because when VR hits the market adoption tipping point its going to go fast and shoppers will be expecting to be able to shop from home with a VR experience akin to what they have in the store,” he said.
The implications of virtual reality for shopping are substantial, per the report. Shoppers can be at home, sitting on a couch and put on a headset to go shopping.
Forward-looking companies are already developing these solutions and working with big-name retailers in different sectors while others are in deep discussions or working towards pilots, per the report.
In market examples include Hulu, which is using virtual reality to help drive app downloads, while Rukkus is using the technology to drive sales of tickets to live sports events and IKEA customers can explore kitchen interiors with virtual reality.
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