How to Develop a Virtual Commerce Strategy for AR and VR

Published by , September 12, 2016 2:54 am

(HarvardBusinessReview) Retailers looking to develop a virtual commerce strategy should consider breaking it down along the following dimensions: 1) Decide which technology to use for each application. VR immerses the consumer in a simulated world. It requires stand-alone technologies such as headsets and, typically, a controller. By comparison, AR overlays virtual elements onto the real world as seen through a smartphone or tablet. 2) Decide whether the application is for in-store or out-of-store use. 3) Identify the customers who would like an AR or VR solution. 4) Establish the value proposition. 4) Set concrete financial or engagement goals that ensure the VR/AR offering is creating value for the business.
VR and AR are emerging technologies. Projections put AR and VR investment in retail at close to $30 billion by 2020 (from nothing today). Don’t wait for a “killer app” to force your hand. Deciding how to play early, and which bets to place now, will let retailers take the lead in this technology

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