+ All Categories
Home > Technology > How Virtual Reality impacts Shopping Habits?

How Virtual Reality impacts Shopping Habits?

Date post: 16-Apr-2017
Category:
Upload: valtech-canada
View: 937 times
Download: 2 times
Share this document with a friend
58
Virtual and Augmented retail Reality is Overated
Transcript

Augmented retail VR commerce Reality is Overated

Virtual and Augmented retail

Reality is Overated

So, my name is Jeff

2

3

Welcome to 2016,the year of Virtual and Augmented Reality content for everyone.

2

definitions

4

Demistifying the JargonDEFINITIONS

Au Re

augmentedrealityView of a physical, real-world environment whose elements are aug- mented by computer-generated items (data, graphics, video, sound)

Real world is not blocked out: users can see the real world and virtual objects

Interaction with virtual objects is limited

Smartphones and tablets can support augmented reality apps

5

5

Demistifying the JargonDEFINITIONS

Virtual Realit yReplicates an environment, real or imagined, and simulates a users physical presence and environment to allow for user interaction and sensory experience.Most immersive experience

Real world blocked out, user can only see the virtual world and virtual objects

Devices range from least expensive Google Cardboard to more expensive devices such as Samsung Gear, Oculus Rift and HTC Vive.

Replicates an environment, real or imagined, and simulates a users physical presence and environment to allow for user interaction and sensory experience.Most immersive experience

Real world blocked out, user can only see the virtual world and virtual objectsDevices range from least expensive Google Cardboard to more expensive devices such as Samsung Gear, Oculus Rift and HTC Vive.

virtual reality

the potential of VR is to reimaginereality, to personalise it to allow access to objects,places and people that are outof reach in the real world.

7

VR is not novel; its a series of visionaries and innovations.

But most, VR as we know it was created by a handful of pioneers in the 1950s and 1960s and afterwards the 1990s.

http://www.theverge.com/a/virtual-reality/qa_fb8

1935

~1985

~1990

~1995

2016

2016

This is when we do a Live demo14

1679%of people said theyd like to try VR again.81%will tell their friends about it.

2

Why should you care?

Because they do!!!17

Because they do!!!18

Because they do!!!19

Retailers

Because these retailers 20

Other Brands

Media and large brands21

2

How big is it?

$1.1B were invested during the first quarter of 2016

while $6.1B were invested in virtual and augmented reality by 2015.

Source: DigiCapital

23

Content production equipment (Camera)Content Distribution (Headset)Content Distribution (platform)

979%Generation Zis the most passionate towards VR73%followed by millennials70%Generation X

Whos interested ?

1766%of consumers are interested in buying items via VR63%said that theyre expecting VR to change the way they shopIn what?

Ericsson research lab26

Active VR users worldwide from 2014 to 2018 (in millions)Source: KZero Statista 2015

27

virtual reality

market is estimated to be worth $30 billion in revenue by 2020.

market is estimated to be worth $56.8 billion in revenue by 2020.augmented reality

29

2

Who can benefit?

VR PORN

32

2

Lets focus on Retail

8

8

Demistifying the JargonENHANCED REALITY SPECTRUM75% of the Forbes Worlds most Valuable Brands have created some form of virtual or augmented reality experience for customers or employees, or are themselves innovating and developing these technologies.Virtual Worldhypergridbusiness.com October 2015

1766%of consumers are interested in buying items via VR63%said that theyre expecting VR to change the way they shop

Enhanced Reality in RetailBUSINESS OPPORTUNITIES FOR CUSTOMERSNEEDSOLUTIONBENEFITSLearn more about products before visiting a store.Augmented CatalogsTry onlineLive streamed eventsIncrease overall product engagement through augmented and virtual reality experiences. Higher product engagement results in higher conversions. Find what they are looking for in-store quicker.In-store augmented navigationReduce the time to product engagement by ensuring customers find the right product as quickly as possible.Select the right product for their needs.Product Visualization ToolsHelping customers to find the right product for their needs results in higher conversions.Experience products that arent in stock.Augmented MirrorsVR demosCarry fewer products in-store reducing overall floor space.Learn more about their product after purchase.VR/AR ManualsCreate more engaging product manuals and installation guidesGet help when a product needs servicing.AR/MR Service ToolsImprove customer loyalty by providing more engaging customer self service tools

Enhanced Reality in RetailBUSINESS OPPORTUNITIES FOR RETAILERS

NEEDSOLUTIONSBENEFITCreate more informed store assistants.Interactive Training Tools and KnowledgebaseIncreasing store assistants familiarity with products empowers them to make more informed recommendations to customers.Plan the layout of stores without needing to move a single physical product.Virtual PlanogramsPlanning retail store layouts is time consuming and costly. By virtualizing the process, changes can be tested in real-time without the need to move physical stock.Finding the right product for a customers needs.Product Visualization ToolsHelping customers to find the right product for their needs results in higher conversions.

The retail experience relies on engagement. engaging customers earlier in the sales cycle and for longer increases the likelihood of conversionThe introduction of virtual and augmented reality experiences will create a compelling alternative to the need for physical interaction with products before and after purchase.

WHY AR IS A PRIORITY SOLUTION FOR RETAILMobile behavior in retail - USAThe 4th dimension of the store.With customers mobile device of choice.

Mobile influences 84% of in-store transaction57% of customers use mobile in store

Jean-Franois Tremblay (JT [13]) - wrong image (HMD for VR not AR)

55

IN-STORERet Real EnhDEMOSai i al t ny cin ed

lets consumers experience a hands-on product demowithout ever touching the real product.

Brands

LBELooking to generate a buzz about your brand

55

IN-STORERet Real EnhDEMOSai i al t ny cin ed

lets consumers experience a hands-on product demowithout ever touching the real product.

Brands

in-store demolets consumers experience a hands-on product demowithout ever touching the real product.

Lowe's Audi Lego Volvo

51

IN-STORERet Real EnhNAVIGATIONai i al t ny cin ed

lets consumers navigate through stores finding the products they are looking for with ease.

Brands

in-storenavigationlets consumers try on clothing and change the color or pattern instantly without needing to leave the changing room.

Best Buy Home Depot Walgreens

52

VIRTUALRet Real EnhTRY ONai i al t ny cin ed

lets consumers try on products at home or in-store using augmented reality.

Retail SegmentsApparel Watches Jewelry Sunglasses

Brands

virtual try onlets consumers try on products at home or in-store using augmented reality.

Retail SegmentsApparel /Watches /Jewelry /Sunglasses

RayBan Tissot Dezeen De Beers

54

AUGMENTEDRet Real En h

CATALOGSai i a l t ny cin ed

brings printed catalogs tolife enabling consumers to visualize products in 3D.

Brands

augmentedcatalogsbrings printed catalogs to life enabling consumers to visualize products in 3D.

IKEATesco Asos

53

AUGMENTEDRet Real En hMIRRORSai i al t ny cin ed

lets consumers try on clothing and change the color or pattern instantly without needing to leave the changing room.Brands

augmentedmirrorslets consumers try on clothing and change the col- or or pattern instantly without needing to leave the changing room.

Nordstorm Rebecca Minkoff UnicloNeiman Marcus

50

IN-HOMERet Real EnhVISUALIZATIONai i al t ny cin ed

lets consumers visualize how products will look in their intended setting using augmented reality.

Brands

at-homevisualisationlets consumers visualize how products will look in their intended setting using augmented reality.

IKEA

56

LIVERet Real Enh

STREAMINGai i a l t ny cin ed

lets consumers experience a live event, show or demonstration through virtual reality.

Brands

Supportlets consumers experience a live event, show or demonstration through virtual reality.

Hyundai

56

LIVERet Real Enh

STREAMINGai i a l t ny cin ed

lets consumers experience a live event, show or demonstration through virtual reality.

Brands

Store design and testingLets you see, explore and test the design before physical construction

Cat Kidston

56

LIVERet Real Enh

STREAMINGai i a l t ny cin ed

lets consumers experience a live event, show or demonstration through virtual reality.

Brands

Employees can experiment life like situations using virtual reality

Employee training

Function & Emotion

WEve seen stunts and marketing applications, now I have shown you a fea practical cases where AR and VR can be applied to increase your business.51

2

What I want you to leave with today ?

Some projections put AR and VR investment in retail at close to$30 billion by 2020 (from nothing today).

Dont wait for a killer app to force your hand.

Deciding how to play early, and which bets to place now, will let retailers take the lead in this technology.

Virtual and Augmented Reality Will Reshape Retail, published September 09 2016

12345Can AR and VR enhance my product exposure and shopper experience? Am I willing to test in the market place early? Start SmallWhat type of experience do I need to meet my business goal?Which platform will best support my experience? Who should be involved from my organization?

57

2

Reality is overated Go virtual


Recommended