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Retail Technology Report, Virtual & Augmented Reality Report

Virtual & Augmented Reality in Retail - Thematic Research

Virtual reality is becoming a retail reality - customers are constantly searching for more unique shopping experiences.

In order to stand out in an extremely saturated market, retailers must look for new and innovative ways to showcase their products, and provide unique shopping experiences for their customers to make it worth them visiting their stores.

Virtual and augmented reality can be used by retailers to create unique shopping experiences for customers, although this is still by no means a widespread technique.

  • What you need to know...
  • Over the next 5 years, VR/AR will transform the retail industry, creating new ways of shopping.
  • VR/AR can be used to target the millennial consumer group.
  • The technology has been utilised within the health & beauty sector more than others, with make-up brands creating apps to virtually “try on” the make-up.
  • Virtual showrooms can be simulated, enabling customers to browse a virtually unlimited catalogue of products.
  • Showcase a product which cannot easily be visualised through VR. Home furnishings companies can avoid costly returns by creating apps enabling the customer to visualise bulky furniture items overlaid with the physical space in their own home to “try before they buy”.

Brands are continuously looking to use VR both for direct sales opportunities and to enrich customer experience of the brand.

VR allows retailers to create a custom and unique experience in order to lure shoppers in-store and away from online retailers.

Retailers capture the curiosity of potential customers by offering tech demos and virtual reality simulations. More and more customers would like more retailers to enable them to see how an outfit might look on them virtually. Changing rooms with in-store displays or virtual changing rooms where items are digitally added to their reflection could be a thing of the future.

GlobalData’s Virtual & Augmented Reality in Retail report provides an indepth analysis on this topic.

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