Experiential Retail: VR Technology Drives Consumer Engagement and 70% Higher Conversion Rates

What's Inside

The 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.