How Virtual and Augmented Reality Will Reshape Retail

Virtual and Augmented Reality Technology

Augmented and Virtual Reality Kosbit

Augmented and Virtual Reality have long since exited the ‘fads’ and ‘trends’ categories and have made their way permanently into the ‘here to stay’ one. Needless to say, AR and VR have taken the world by storm and are modifying the way we carry out a number of activities in almost every other field that you can possibly think of.

The reason why AR has been so successful in every other field is its versatility and ability to blend in with almost anything absolutely seamlessly. AR and VR provide us with an outlet to include technology in regular workplaces in seemingly unusual yet seamless ways, integrating it in the form of various aiding tools that can open up a whole new world of opportunities including utilizing new forms of data very effectively.

Looking forward from the fact that that AR and VR can completely modify how we work in the industry, there is also no denying the fact that it is an attractive prospect for all people involved. What employee would not be excited to work in an environment which allows him or her to interact in a virtual world as part of the job specifications? To add to it, what customer would not be open to the idea of trying out an interesting and cutting edge technology and make mundane tasks that much more enjoyable?

The core purpose behind AR is to create an outlet or a source which lets humans at a workplace work in tandem with the available technology in order to receive such optimum results that may not have been possible without the two factors combining their efforts together.

As a survey suggests, over 88 percent of the mid-market companies have already invested in and are using some form of augmented or virtual reality to enhance their productivity and aesthetic value. It is opening up the world of ecommerce and advertising as well as that of retail and sales, proposing a plethora of new opportunities waiting to be explored.

Almost everybody knows that Facebook very recently purchased Oculus Rift for over $2 billion, whereas other major companies have huge investments to show for as well. Whether it be Microsoft, Intel, HTC, Sequoia, or any other leading company in the industry, the smartest move seems to be to invest in AR and VR technology. As statistics suggest, over $2 billion were invested in this industry over the course of the previous year, signifying the magnitude of the success and future potential of Augmented Reality.

The success and potential of AR and VR is inevitable. Our future surrounds around the advent of new technology and machines that can further facilitate the quality and standard of life of human beings. The nature of the workplace is changing and it is becoming much more data centric and intensive, which translates into the need for a technology that can become a probably source of data and can also serve as the means to present it and let it to be interacted with the human beings working in that workspace.

If you are one for statistics, here is one for you: it is being predicted that the investments in VR/AR in retail only will have risen to a staggering $30 billion by the year 2020!