Retailers are increasingly using virtual reality to redefine both the in-store and online shopping experiences.
Virtual reality (VR) is already big, with the global VR headset market estimated to be worth $31.5B and growing at a CAGR of 8.5% according to CB Insights’ Industry Analyst Consensus, partially driven by lower headset prices and rising adoption among gamers.
Early tests for shopping applications are well underway, with VR and related technologies such as fragrance tech beginning to blur the lines between in-store and online shopping experiences.
By providing better visualization, multisensorial immersion, and greater access to human store associates, retailers are looking to use VR to boost customer engagement, reduce the risk of product return, and offer a higher level of service.
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