Retail & eCommerce Committee
The VR retail market is expected to rise to $1.6B by 2025, according to Goldman Sachs. And AR could reach $30B in sales, as projected by Digi Capital. According to a report by IDC, the retail industry is expected to spend $1B in 2017 on VR/AR solutions. Driven by a 5-year CAGR of 240%, IDC forecasts that retail could become the top industry for VR/AR spending by 2020.
Join representatives from tech leaders, startups, retailers, and other industry leaders testing new forms of AR and VR used in-store and out-of-store to enhance and analyze purchase behavior.
This committee will create best practices, guidelines, and call to actions (e.g., recommendations for standards) for Retail & eCommerce as it relates to VR and AR.
- InContext Solutions
- Studio Transcendent
Walgreens added 3-D imagery to its in-store maps. More big-name retailers are looking at VR, including Lowe’s that created the Holoroom, which allows customers to design their kitchen or bathroom space while in its stores, using an app. Then, by using virtual reality goggles, shoppers could step into the design.
Experts say shoppers will continue to see more retailers testing these types of technologies. “Things are moving fast,” said Artemis Berry, vice president of digital retail for the National Retail Federation (NRF), a trade group.