Virtual reality has been round for fairly some time now. While the origins of the time period are debatable, the earliest revealed reference to the time period goes again to 1938, when Antonin Artaud’s revealed a set of essays referred to as ‘Le Theatre et son double’.
Since the early 1990s, VR has been a part of the widespread vocabulary; nevertheless, the extreme value of know-how and restricted software program has meant shopper purposes have been restricted principally to gaming to date.
This is, nevertheless, altering. With know-how prices decreasing and VR hardware turning into extra suitable with smartphones, it’s predicted that adoption will develop quickly. It is estimated that the market measurement for VR software program and hardware will develop from $four.1 billion (Dh15.05 billion) in 2016 to $41.5 billion by 2020.
In 2017 itself, 6.three million head mounted VR units are anticipated to be shipped by producers, which factors to the truth that VR is not a novelty… it’s turning into mainstream.
But does VR have purposes in advertising and retail? Let us take a look at some examples of how VR helps corporations keep forward of the curve.
* Creating virtual showrooms
This is probably probably the most actionable use of VR. Virtual shops are cheaper to arrange, supply prolonged performance, don’t require any logistics or employees, and might be customised by the purchasers themselves. IKEA has been utilizing Virtual Home Experience for the previous few years to offer clients an immersive expertise, the place they will visualise their very own houses with totally different mixtures of backgrounds, furnishings and equipment.
* Enhancing product expertise
VR is more and more getting used inside the auto retail to offer clients a really feel of check driving a automotive. Lexus has been utilizing Oculus Rift to let individuals take a virtual check drive of their new fashions in a way more reasonable method than by way of common driving simulators. Similarly, Volvo makes use of Google Cardboard to offer clients a really feel of driving in several landscapes.
The fascinating level is that clients can immerse themselves within the product with out even coming to the showroom.
* Designing higher bodily shops
VR can also be serving to retailers create and check totally different retailer layouts and planograms, thereby decreasing danger and enhancing the return on funding.
German retailer Lidl labored extensively with Kantar Retail on VR platforms to provide you with retailer designs and layouts for his or her entry into the US market. Similarly, Samsung has provide you with the idea of Store 837 — a retailer that doesn’t truly promote something, however permits staff and clients to collaborate in a digital playground, powered by VR software program, to provide you with progressive ideas for retail.
* Driving omni-channel experiences
It is just not solely bodily retailers who’re utilizing VR to create immersive on-line experiences. Online retailers are additionally utilizing VR to simulate purchasing in a bodily surroundings. This creates an entire new purchasing medium, as clients can keep away from the bodily effort of going to a retailer and the surroundings can be customised to every buyer’s choice (music, lighting, product vary could be customised at a person degree).
Chinese on-line retailer Alibaba has led this development by opening a virtual mall for its clients. and Amazon and eBay are additionally taking a look at establishing their very own virtual shops. (eBay even have a reputation for his or her branded VR glasses — Shopticles).
* Building model id
Brands can use VR to strengthen the picture that they need to be related to. The outside equipment firm, North Face, makes use of VR to simulate climbing in Yosemite National Park. It helps to strengthen associations of being an organization that gives gear for journey lovers.
Red Bull permits shoppers to expertise excessive adrenalin actions by way of VR, to reinforce its edgy and hip imagery. In addition to constructing model associations, utilizing know-how like VR additionally helps to reinforce the model’s picture on being progressive and forward-thinking.
Whilst there are numerous potential purposes of VR in retail and advertising, it does lend itself extra readily to some classes than others — automotive and shopper electronics have a superb match with know-how. Fashion and wonder merchandise are recognized to be trendsetting, and in furnishings and residential design, the client’s creativeness might be put to good use by way of VR.
While these classes have been the early adopters of VR, we’ll more and more see this know-how being utilized throughout different classes as properly.
Gagan Bhalla is a director at Kantar MENAP.