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Augmented retail VR commerce Reality is Overated
Virtual and Augmented retail
Reality is Overated
So, my name is Jeff
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Welcome to 2016,the year of Virtual and Augmented Reality content for everyone.
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definitions
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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
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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.
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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.
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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
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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
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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
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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
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Who can benefit?
VR PORN
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Lets focus on Retail
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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)
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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?
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Reality is overated Go virtual