Insight Report 10 minutes PremiumExperiential Retail: VR Technology Drives Consumer Engagement and 70% Higher Conversion Rates Coresight Research May 5, 2020 What's InsideThe coronavirus pandemic has caused consumers globally to do the majority of their shopping online, so brands and retailers have had to find ways to engage with shoppers and differentiate themselves from the competition. There has therefore been a rise in the use of virtual reality (VR) and augmented reality (AR) technologies in retail, enabling brands to provide experiences to shoppers: The virtual store experience has gone from nice-to-have to need-to-have. We explore four use cases for experiential technology in retail and highlight the benefits of its adoption for brands and retailers, which include the following: Higher e-commerce conversion rates Increased consumer engagement Brand immersion Wider reach to consumers More opportunities to incorporate e-commerce functionality Click here to read more about the new applications of AR and VR technologies in retail, or explore the use of reality technologies in the home sector in our report: Can AR and VR Be Game Changers in Furniture Retail? Click here to view Coresight Research’s ongoing coverage of the coronavirus outbreak. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Analyst Corner: The Rise of Grocery Discounters with Sujeet Naik2023 US Tax Tracker #3: IRS Issues $199 Billion in Refunds, Average Refund Declines by 9%Weekly US and UK Store Openings and Closures Tracker 2024, Week 17: Express To Close More Than 100 Stores in the USUS Online Grocery Survey 2023: Insights into Shopper Behaviors, Quick Commerce and Meal Kits