Virtual Reality For Retail, Marketing Could Hit $1.8B In 2022

by MR Magazine Staff Jan 29, 2019

Revenue related to virtual reality technology initiatives is expected to jump by 3,000% over the next four years, and could generate as much as $1.8 billion for retail and marketing companies in 2022, according to a new report from PYMNTS.com called “Virtual Reality in Retail: 2019 and Beyond.” The report suggests that use of VR and similar technologies by retailers could help consumers to do more research before they buy items, whether by trying out products through VR experiences before they visit stores, or by using in-store technologies to help them gauge fit of apparel or different makeup looks. While augmented reality features in mobile apps have become more common, VR features may not become prominent so quickly in mobile form. Smartphone-based VR features, however, could help supplement in-store VR services and shopping experiences, the report said. Read more at Retail Dive.