Reality Technology in Retail

Executive Summary

Reality technology — also defined as immersive technology — describes the platforms that use digital technology to emulate physical objects and real-life experiences and comprises virtual reality (VR), augmented reality (AR) and mixed reality (MR). In this report we:

• Define the different types of reality technology platforms and describe the potential for their application in retail.
• Show how retailers are collaborating with technology firms and startups to implement reality technology in commercial operations.
• Describe how the application of reality technology is changing the way consumers shop by introducing new ways for retailers to engage with them and enrich the shopping journey with tools that can inform shoppers’ decision-making process.
• Show how retailers, including Macy’s and Amazon, have introduced reality technology to give customers virtual “try before you buy” services and new ways to shop.
• We describe how retailers are expected to accelerate the adoption of reality technology into operations thanks to the introduction of next generation 5G mobile communication that is expected to be able to support numerous more advanced uses of reality technology.