Aditya Mani appointed as Co-Chair of VR/AR Association Retail Committee

We are thrilled to have Aditya Mani help us lead our community for Retail! Join our weekly online sessions!

Aditya Mani is the founder of the YOLOgram Style: A direct to avatar platform where consumers can style their avatars with branded wearables and share immersive stories to social. He has taken a keen interest in showcasing digital fashion on avatars (both brand ambassadors as avatars and consumer avatars). He has actively participated in the retail & metaverse groups at VRARA and has contributed as an author in industry reports for the groups. He is an advisor in AIXR for the Retail Industry focus and also on the Chair of the Digital Fashion Group of Metaverse Standards Forum. Keenly looking at the digital fashion world from the lens of AR (body tracking), metaverse (persistent embodiments on avatars) and 3d commerce as well as playable commerce (showcasing fashion in gaming platforms). Aditya is also on the Advisory Board of the Metaverse Fashion Council. He also serves as Expert Faculty on the National Institute of Robotics and AI.

“I am excited to co-chair the retail committee because the era of Spatial Computing is finally here & retail brands can win in this new world!”

— Aditya Mani, Founder & CEO: YOLOgram

Highlights from our annual Retail Forum: 800 people from 62 countries. See top speakers, countries, sessions.

Our annual ​Retail Forum​ brought together the best minds in VR/AR, shopping, and metaverse commerce. We had about 800 attendees, 20+ speakers from Herman Miller, Snap, Sony, Target, Meta, Google, Microsoft, Bridgestone, Amazon, Marxent, Lenovo, VR Direct, Magic Leap, Walmart, Verizon, Accenture, Morgan Stanley, Obsess, Banuba, WestRock, Niantic, Philips, among others.

Access video recordings ​here​.

Do you want to participate in our upcoming ​Online Meets​? We have weekly online meetings with presentations, live discussions, and networking to help you grow your knowledge, connections, and your business. If you would like to attend, email ​info@thevrara.com​ to be added to the meeting invites. If you have something interesting to present, let us know and we will add you to the schedule!

The Forum’s top sessions included:

Thank you to our Retail Forum sponsor:

Join our ​Immerse Global Summit​ at ​Metacenter Global Week​ in Orlando on Oct 17-19. We expect 3000+ people, 200+ exhibitors, speakers from Amazon, Meta, Obsess, many others!

VR/AR Association annual Retail Forum will be held on Aug 31. See industry highlights!

Join our annual Retail Forum on Aug 31 as we bring together the best minds in VR/AR, shopping, and the metaverse. We expect 1000+ attendees, 20+ speakers from Walmart, Meta, Google, Microsoft, Bridgestone, Marxent, Lenovo, VR Direct, Magic Leap, Sony, among others.

Our event will be 4hrs long. In addition to keynotes, rapid presentations, sessions, demos, expert panels, we will have the best-in-class 1-on-1 online networking where you can build meaningful connections! ​See highlights from our forum last year here​.

Some interesting highlights about the industry:

• More than 90% of Americans currently use, or would consider using augmented reality (AR) for shopping. This is an increase from 66% of people who expressed interest in using AR to make purchasing decisions in 2019 (Google research).

• Shopify's research shows a 94% higher conversion rate for products with AR content than products without AR.

• 69% of online shoppers in the US interested in using AR scanning app to try on apparel and footwear purchases. 62% of shoppers revealed their willingness to use smartphone scanning to determine the correct sizes for their apparel and footwear purchases Harris Poll/Footwear News (March 2023).

• 300% increase in conversion rates when shoppers utilize the “View in Room” AR feature while shopping for furniture (Marxent)

• Increased product engagement: 5 times the number of products viewed when AR is deployed on PDP. This resulted in a 25% add-to-cart increase (Jerome’s Furniture WebAR)

• Increased cart conversion: Shopify consumers of a retail brand were “65% more likely to place an order after interacting with a product in AR.” (Rebecca Minkoff)

• Personalized user-generated content: The modern consumer loves personalization, and 76% of consumers prefer brands that showcase UGC. (ChargeAR.com)

• Increased loyalty AR creates positive brand impressions, builds consumer confidence, and creates a trusted loyalty loop. That, in turn, reduces returns (up to a 22% decrease from Build.com) while keeping the brand top of mind. (Warby Parker Virtual Try On)

• 83% of consumer goods executives surveyed expect their company will have a stake in the Metaverse within the next 2 years. (Deloitte)

• Metaverse consumerism has the potential to drive $5 trillion in value creation by 2030 (McKinsey & Company, 2023).

Join us on Aug 31 to learn and connect!

Thank you Sponsors:

Also, join our ​Immerse Global Summit​ at ​Metacenter Global Week​ in Orlando on Oct 17-19. We expect 3000-5000 people and have Amazon AWS, Meta, Bridgestone, many others confirmed!

VRARA Retailer's Playbook for the Metaverse: e-commerce in Virtual Space using Web3, VR/AR, NFT (download)

Download publication

VRARA Retail Metaverse Playbook

(and participate in our annual Retail Forum 2023 on Aug 31!)

VR/AR Association White Paper

Retailer's Playbook for the Metaverse

e-commerce in Virtual Space using Web3, VR/AR, NFT

By the VRARA Retail Committee

Many retailers tell us that the metaverse feels more futuristic than practical, yet there are retailers already using metaverse technologies and early iterations of virtual worlds, like gaming platforms. We intend this guide to explain present-day retail possibilities, plus where we may be heading in the coming years. This is a companion guide to our previous ebook, The Retailer’s Playbook for AR and VR in 2023.

Foreword: Harnessing the Metaverse for Retail

Beck Besecker, Founder & CEO, 3D Cloud by Marxent

Sarah Ennis, Intergalactic Agency Inc

Table of contents

Harnessing the Metaverse for retail

Introduction

Why we made this guide

Who should read this guide?

Understanding what the metaverse is and could become

Benefits of the metaverse for retailers

8 major benefits from using metaverse for e-commerce and retail brands Web3 placemaking best practices

How shopping works with Web3 and the metaverse

Web3 placemaking best practices

The role of NFTs in metaverse retail

Example: NFT as a tokenized loyalty program

More examples of NFT Campaigns

Tips to discover your metaverse possibilities

How to start a metaverse project

Final thoughts

VRARA Retailer’s Playbook for AR and VR in 2023 (download)

Download publication

VRARA Retail Retailers Playbook 2023

(and participate in our annual Retail Forum 2023 on Aug 31!)

VR/AR Association White Paper

The Retailer’s Playbook for AR and VR in 2023

Stores, e-commerce, Web3, AI/ML, and beyond

By the VRARA Retail Committee

VRARA Retail Co-Chairs

Sonia Schechter, 3D Cloud by Marxent

Sarah Ennis, Intergalactic Agency

VRARA Retail Working Group Contributors

Ben Feld, Niantic

Lucky Gobindram, CemtrexXR

Vanessa Mullin, Agora

Aditya Mani, YOLOgram Style

Hassaan Iftikhar, Aequilibrium

Navjeet Chhina, Genius Ventures Inc

Jessi Sparks, Magnetic Mobile

Delz Erinle, Astraverse

Michael Potts, Polycount

Rachel Fischbein, Fashion Incubator San Francisco

Oktay Kesebi

Foreword: Unlocking the potential of AR, VR, and Web3 in retail

Beck Besecker, Founder & CEO, 3D Cloud by Marxent

It used to be relatively easy to test new retail tech concepts. Back in 1999, I worked for a datadriven couponing company. We conducted a simple experiment by having my team stand next to products in convenience stores and hand out coupons as shoppers passed by. Looking back, that experiment seems ultra-simple when compared to testing the current class of retail technologies.

But the good news is that testing new ideas doesn’t have to be complicated. The potential of today’s cutting-edge technologies—Augmented Reality (AR), Virtual Reality (VR), and Web3—is crystal clear, and there are accessible methods for quickly testing ideas. This is good news because consumers want to shop with these technologies.

According to a recent Harris Poll/Footwear News survey conducted in March 2023, 69 percent of online shoppers in the United States expressed their interest in using an FDA-cleared AR scanning app to try on apparel and footwear purchases.

Furthermore, approximately 62 percent of shoppers revealed their willingness to use smartphone scanning to determine the correct sizes for their apparel and footwear purchases. But the applications of AR continue beyond virtual try-on.

Our own data shows a staggering 300 percent increase in conversion rates when shoppers utilize the “View in Room” AR feature while shopping for furniture. Retailers across various categories are testing other applications, ranging from Snap lenses to in-store virtual mirrors.

While testing AR, VR, and Web3 may seem more complex than my in-store couponing test, they are well within the reach of retailers eager to evolve their strategies and embrace technologies that resonate with millennials and future generations. These emerging tools offer the ability to enhance the customer experience, drive operational efficiencies, and unlock previously unimaginable levels of engagement.

Retailers today have only begun to scratch the surface of what these transformative technologies can offer. They possess the power to redefine how businesses interact with customers, presenting exciting possibilities for innovation and growth. Now is the time to seize this opportunity, educate yourselves, build confidence, and test your ideas for utilizing AR and VR.

In this ebook, a group of early developers of retail technologies will serve as your guides on this journey. Our goal is to demystify these technologies, making them more accessible and easier to understand. We aim to empower retailers to explore and harness the immense potential of AR, VR, and Web3 in their own unique ways.

Drawing from our collective experiences and insights gained from numerous retail deployments, we have witnessed firsthand the immense impact these technologies can have. We have seen customers transported to virtual showrooms, engaging with products in ways previously only possible in dreams. We have witnessed shoppers trying on virtual garments, enabling them to visualize and personalize their style like never before. The power of AR in enhancing the in-store experience is undeniable, seamlessly blending the physical and digital worlds to create captivating environments that capture shoppers’ imagination.

Consider this ebook your trusted resource and compass as you embark on your exploration of AR, VR, and Web3. We will delve into the fundamentals, provide practical implementation advice, and showcase inspiring examples that illustrate the transformative power of these technologies. Our aim is to ignite your imagination and spark ideas for your own retail revolution.

It’s time to break free from the constraints of the past and embrace the boundless potential of the future. Together, let’s unlock the door to a new era of retail where AR, VR, and Web3 revolutionize the industry and make the shopping experience better for all.

Also, download our VRARA Retailer's Playbook for the Metaverse: e-commerce in Virtual Space using Web3, VR/AR, NFT

Participate in our annual Retail Forum 2023 on Aug 31!

Call for Sponsors for "The Retailer’s Guide to AR and VR in 2023"

The Retailer’s Guide to AR and VR in 2023

Stores, E-commerce, Web3, and Beyond

(VRARA Retail publication)

Call for Participation

Interested in becoming a sponsor for our white paper? Sponsors get their logo on the cover, one featured page, and promotion via our channels, plus the contact list of people downloading the paper. Our publications are downloaded by 1000’s of professionals. Email info@thevrara.com

Below is more info on this publication (intro, authors, and TOC).

Intro

The VRARA Retail Committee consistently gets the same questions from retailers looking into AR and VR. This guide is designed as a resource for those considering creating AR/VR use cases for their business projects. Project leaders and innovation teams can use this guide to:

• Locate keywords and key concepts while building a business case and evaluating options for their investment in AR/VR tech. 

• Explore use cases and problems solved with 3D, AR, VR and Web3 in retail

• Review examples of 3D, AR, VR and Web3 in retail

• Utilize the quick reference guide on relevant 3D, AR, VR and Web3 technologies

Authors/contributors include:

• Sonia Schechter, Marxent

• Sarah Ennis, Intergalactic Agency 

• Ben, Niantic

• Lucky Gobindram, CemtrexXR

• Alan Smithson, MetaVRse & TheMall 

• Vanessa Mullin, Agora

• Hassaan Iftikhar, Aequilibrium 

• Navjeet Chhina, Genius Ventures Inc 

• Jessi Sparks - Magnetic Mobile

Table of Contents includes:

Introduction

Why we made this guide

Why retailers should join the metaverse

5 things to know about getting started with AR,VR, Web3

Overview of AR/VR and Web 3 in Retail

Benefits

Use Cases

Examples

Planning Tips

Lead with your audience

Follow the data

Consider your investment level

Quick Start Project Guide

1. Identify a project

2. Learn about 3D content and technologies

3. Formulate a strategy

4. Develop a business case

5. Make a “build or buy” decision

6. Research vendors

7. Create a project charter

8. Develop a project plan

9. Measure success and evolve your strategy

10. Distribution and awareness strategy

Focused specifically on the metaverse? Use this project planning guide

Glossary of terms

Metaverse 101: What is a metaverse?

AR Lunch and Learn for brands with glossary and examples:

Overview of 3D technologies through a retail lens

VRARA Members Specializing In Retail Experiences

Highlights from our VRARA Retail Forum 2022: We had 1249 attendees from 69 countries. Top Speakers and Sessions.

Goldman Sachs reported the Metaverse is estimated to be a $12 trillion opportunity. Our Retail Forum showcased how much commerce is part of this! Thank you to all the speakers, attendees, and sponsors!

Let’s continue the conversions! Join our weekly Online Meets and see you in Madeira, Portugal for our Immerse Global Summit Sept 28-30!

Highlights from our Retail Forum:

According to JP Morgan, direct-to-avatar sales of virtual goods have amassed a $54 billion market. Gucci sold a digital version of its Dionysus bag for $4,115 –more than the price of the physical item itself. Technology research and consulting firm Gartner, Inc. has predicted 25% of consumers in the U.S. will spend one hour daily in the metaverse shopping, socializing, being entertained and learning by the year 2026. ​According to McKinsey’s and Company, marketers and the metaverse represent an opportunity to engage consumers in entirely new ways while pushing internal capabilities and brand innovation in new directions. Now is the right time to adopt a test-and-learn mindset, to be open to experiments in the metaverse, and to move on quickly from failure and capitalize on success.

Event Sponsors

Thank you Marxent , Mixtiles , and ZERO10 for sponsoring our event!

Metaverse is to be a $12 trillion opportunity. Login to our virtual event tomorrow to learn all about it!

Goldman Sachs reported the Metaverse is estimated to be a $12 trillion opportunity.

​Login to our virtual event tomorrow, Wed Sept 21, to learn more!​

According to JP Morgan, direct-to-avatar sales of virtual goods have amassed a $54 billion market. Gucci sold a digital version of its Dionysus bag for $4,115 –more than the price of the physical item itself. Clinique has recently rolled its “Metaverse Like Us” campaign, which includes a collection of female and non-binary profile picture avatars, that aims to be more inclusive. Learn more during our event!

Technology research and consulting firm Gartner, Inc. has predicted 25% of consumers in the U.S. will spend one hour daily in the metaverse shopping, socializing, being entertained and learning by the year 2026. Although it is an exciting venture there are still many concerns to account for: Safety and privacy of the users information. The idea is that each avatar will be connected to a blockchain, which will protect your financial and personal data. Don't miss sessions on this topic!​

According to McKinsey’s and Company, marketers and the metaverse represent an opportunity to engage consumers in entirely new ways while pushing internal capabilities and brand innovation in new directions. Now is the right time to adopt a test-and-learn mindset, to be open to experiments in the metaverse, and to move on quickly from failure and capitalize on success. Meet 1-on-1 with all the speakers during our event!

Check out the 50+ Speakers and Session on Schedule here.

Speakers include:

Event Sponsors:

Thank you Marxent , Mixtiles , and ZERO10 for sponsoring our event!

Who will win the Retail Metaverse and why? Login and find out on Sept 21!

In the wild, wild West — who won? Success came to those who provided tools and infrastructure, they took one step at a time (learn, experiment, fail fast, measure engagement. Don’t get caught standing still!), define purpose )and how will others receive and partake in your purpose.)

On Sept 21, login to our VRARA Retail Forum, and learn from:

• Walmart about Metaverse-Ready Brand Guidelines

• IKEA about Spatial Computing for the Home

• PERFECT about the Must-Have AI /AR Beauty & Fashion Tech Solutions for Personalized Retail

• Microsoft and 6 retail startups about the challenges & opportunities of VR/AR for Frictionless Shopping

• SAP about why the metaverse can be the biggest game-changer of all

• Ulta Beauty about Digital Innovation & Retail Experiences

• Unity about From Design to NFT: Retail Goes Real-Time 3D

• Meta about the world's largest virtual mall

• Verizon about the Impact of 5G on VR/AR and Deigning New Products Around It

• And many more! Check out the 50+ Speakers and Session on Schedule here!

Our Forum is a full day virtual event on Sept 21, with 1,000+ attendees and 1-on-1 Networking so you can build meaningful connections!

Event participants include:

VRARA Retail Forum Sponsors

Thank you Marxent , Mixtiles , and ZERO10 for sponsoring our event!

Mixtiles sponsors our Retail Forum on Sept 21. IKEA, Boson Protocol, PERFECT, others confirmed as Speakers

We look forward to your participation in our VRARA Retail Forum a full day virtual event on Sept 21 with 30+ Speakers, Sessions, and 1-on-1 Networking! We expect a 1000 audience. 

We are thrilled to have Mixtiles sponsor our Forum! Mixtiles thinks the future of home design is Augmented Reality; they're developing cutting edge technology for designing homes in a magical way.

We confirmed additional Sessions/Speakers: 

• Spatial computing for the home - How the home enables ecommerce and more. Sam Brewton, IKEA

• Omniverse Commerce - The future of commerce will span multiple metaverses. Justin Banon Co-Founder, Boson Protocol

• Must-Have AI /AR Beauty & Fashion Tech Solutions for Personalized Retail. Wayne Liu, Chief Growth Officer, President, Perfect Corp

• And others! Check Schedule.

VRARA Retail Forum participants include:

Sonia Schechter appointed as VRARA Retail Co-Chair

Sonia Schechter is 3D Cloud by Marxent's CMO and has an extensive background in marketing Augmented Reality, Virtual Reality, and emerging technologies to retailers. Sonia started her career in editorial product management at Microsoft and went on to work for several venture-funded startups prior to joining Marxent. She holds an MSJ from Northwestern's Medill School of Journalism and a BA in English Literature from Earlham College. While she works out of Marxent's St. Pete, Florida office, Sonia grew up in Indiana and spent much of her career in Seattle. She is somewhere between a Midwesterner and a Seattlite at heart.

“I am excited to be joining the Retail & Ecommerce Committee of the VRARA as a committee co-chair. At Marxent we have launched, sustained, and scaled 3D programs in partnership with storied retailers such as Macy’s, La-Z-Boy, Ashley HomeStores, and many others. I look forward to bringing my expertise to help expand the utility of the VRARA for retailers seeking to develop 3D strategies today, for the metaverse, and beyond.”

— Sonia Schechter

Sarah Ennis of Intergalactic and Fortune 50 Advisor, appointed as Co-Chair for our Retail Committee

We are thrilled to welcome Sarah Ennis as Co-Chair of our Retail Committee. Sarah is a trusted advisor to key decision makers of Fortune 50 companies in the area of innovation with custom advanced technology. She started her career in management consulting with major consulting firms over a decade ago and in the past few years she has led innovation and strategic partnerships for companies such as FF Advanced Technology Group (now Unity Technology) and Intergalactic Agency. In this capacity, she helps her clients stay relevant and leverage high ROI advanced technology such as AR/VR to solve key business problems. In the retail space, Sarah is trusted by clients such as lululemon and Kroger and partners such as Microsoft, KPMG, Lenovo, and Ogilvy. Sarah is a Sauder MBA alumni and often invited to panels to speak about the impact of AR/VR in the future of various industries.

“I’m excited to work with the VRARA retail community as a key evangelist and content contributor. My vision is to start a meaningful foundry series on retail industry trends where SMEs from retail and tech industries contribute insights and share knowledge about the latest high ROI use cases of VR/AR and the future trends for retailers to be aware of in order to stay relevant.”

— Sarah Ennis, Intergalactic Agency

Wool & Water joins the VR/AR Association and will share its 2021 Shoppers Study

Chicago & New York, March 23, 2021 – Wool & Water is excited to be one of the newest members of the VR/AR Association and looks forward to joining other partner organizations and participating in the association’s initiatives. Wool & Water’s Justin McAneny will co-chair the Retail Committee as well as sharing Wool & Water’s expertise with members that drive the adoption of VR/AR technologies.

“We couldn’t be more excited to have Wool & Water join the VR/AR Association. While we’ll always appreciate VR and ARs place in gaming, having more organizations drive its usage into B2C applications such as retail, automotive and energy is a positive for anyone involved in mixed realities," Kris Kolo, Global Executive Director, VR/AR Association. 

Wool & Water is the first group dedicated entirely to transforming organization’s omnichannel retail footprints with shoppable VR/AR experiences. Its proprietary Extended Retail® offering bridges the physical and digital storefronts to provide shoppers with the confidence, convenience and selection they require. 

“There is no better organization to drive the meaningful, thoughtful advances of VR and AR than the VR/AR Association with its thousands of members and who’s who of innovators,” said Bodzewski. “Our team is thrilled to join these leaders with our goal of driving the same type of adoption of shoppable B2C VR/AR experiences that are more than gimmicks as the VRARA has been able to do within B2B.”

Wool and Walter did a study on 1,031 US Shoppers in 2021 and their shopping habits in-store, online and of course what it means for VR/AR. There are some eye openers for our industry:

1. 68% of your "average" US shopper reported using VRAR in last 30 days (wow!)

2. 83% would be more likely to purchase from a company offering AR than one that does not (WOW!)

A study like this frankly doesn't exist yet at this scale (1,000+), recency (2021) and focus on all three ways to shop. VRARA Members will receive a copy of this study.

For more information please visit www.thevrara.com

For more information about Wool & Water LLC please visit www.woolandwater.co

We invite you to participate in our forum for brands & retailers

Retail as you all know has been profoundly impacted by Covid-19. Now more than ever immersive technology is set to play a major role in how consumers interact with your brand and ultimately purchase your products.

We’d like to set-up a forum composed of just retail and brand members to share ideas, challenges, and perspectives on all things VR and AR. Our mission is to create an environment where everyone feels comfortable contributing to and engaging in productive conversations that move our industry forward in new and exciting ways. We want to foster an environment where you can talk freely without worrying about being pitched to and thus opening this group to only retailers and brands.

The sessions will be hosted by Du Nguyen, VRARA Retail Committee Chair, and Agustina Sartori, Director of AR Innovation at ULTA Beauty.

The monthly meetings will be 30 minutes long with selected themes along with time set aside for open discussions. We’ll occasionally bring on special guest speakers on topics that are relevant to what you do and how you work. Please let me know if you’re interested in joining this forum as we’re limiting it to a small group to start.

Email us at info@thevrara.com if you're interested and will provide more information on our upcoming calls and initiatives.

Regards,

Du Nguyen, VRARA Retail Committee Chair

Tomorrow, join live! Retail Expert Panel featuring Macys, Sephora, Bob's Furniture, Sprint Retail and others!

RSVP here

Our Retail Committee expert panel will present the latest use cases, best practices, and ROI examples. Learn from industry thought-leaders, watch exciting demos of VR/AR solutions currently in the market, and ask questions during our live Q&A.

RSVP for our Webinar Expert Panel: Retail Brands using AR/VR technology to help deliver ROI

RSVP here (click on Upcoming tab)

Creating ROI in the future of AR/VR in Retail: How Retailers are using VR/AR to achieve growth, profitability, and customer experience goals. Hear directly from retailers and the tech companies they’re working with to uncover best practices, new technology and new ideas that are shaping the future of how we buy. 

Call for Presenters for our Retail & eCommerce Webinar

Our Retail & eCommerce Committee is inviting speakers for a Webinar we are planning for May. Please email info@thevrara.com if you’re interested to present! Let us know if you’re also interested in Sponsoring this webinar.

The Committee’s mission is to provide awareness and education for Retailers on how to utilize VR/AR technology to interact, transact and educate customers. Integrating this technology into a consumer-focused strategy can help increase customer experience and growth while reducing churn and returns. Moreover, this technology can be utilized to help retail employees retain information, use as a guided selling tool with customers and prepare for certain situations that are hard to duplicate in real life to limit risks to themselves or the company.

The VR retail market is expected to rise to $1.6B by 2025, and AR could reach $30B in sales.  The retail industry is expected to spend $1B in 2017 on VR/AR solutions. Driven by a 5-year CAGR of 240%, forecasts show that retail could become the top industry for VR/AR spending by 2020.

Join our Committee and representatives from tech, 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.  More info here

5G Can Reinvent Ecommerce With VR and AR

By Roslyn Layton

It’s easy for consumers to shop online for products and services they already know, but much commerce is still offline because people want to “try before they buy.” New technologies have emerged to close the gap, but whether consumers will be able to enjoy them depends on public policy.

Augmented Reality (AR) and Virtual Reality (VR) are two of the technologies which can become mainstream, extending beyond just video games, with the advent of 5G, or fifth-generation mobile networks. 5G offers speeds 10 times the current 4G with more throughput and essentially no latency, or lag time. As 5G becomes more pervasive, the technologies like AR and VR will be democratized.

While many are familiar with AR and VR from the gaming experience, these technologies can help make products on a screen more real with images that can be rotated, enlarged, and experienced interactively. By holding up the phone’s camera for example, AR superimposes the desired product into the user’s view.  VR personalizes the experience for the viewer, for example, by simulating a road trip so a person can buy a car without leaving home. AkzoNobel's award-winning Visualizer mobile app, downloaded some 20 million times, allows users to virtually paint living spaces in chosen colors and gives customers the freedom to experiment with colors and make confident choices before purchasing the paint.

Ecommerce could become the top industry for VR/AR applications. The retail industry already spends over $1 billion annually on VR/AR solutions, growing by 240% according to the VR/AR Association.  Industry experts, like Eric Prince of Cimmerse – a startup enabling this technology for online sales of fashion, luxury goods, home décor, and fine art, are eager for 5G because of increased speeds and capacity for more information. This translates into larger augmented and virtual reality scenes, helping retailers to offer their customers a more compelling visual experience and hence close the sale.

Prince describes how 5G would work for his clients, “Imagine a product like a full-size couch in hyper detail that you can place in your room. With 5G, we will be able to provide the couch, the room and everything in it, toss in a realistic human avatar with artificial intelligence that walks into the scene and helps end user with any information needed to complete the purchase.” The VR/AR Association’s 5G Committee notes that this experience “cannot happen unless the networks that will have to support these applications can deliver the required performance, [e.g.] latency on the order of several milliseconds.”

The US generates most AR/VR revenue today, but long term economics could favor China. The Chinese Alibaba and Tencent have made massive investments in AR/VR and are in striking range of Amazon. China is well-positioned for its Asian neighbors to adopt its platforms, and the region could account for half of all global AR/VR revenue in just 5 years, according to AR/VR analyst Tim Merel. The country that wins on platforms has a lot to do with which is first to deploy generation networks, and a slowdown in 5G deployment could harm American firms.

The US was the global leader in investment and innovation in 4G mobile networks and technologies, but China now has the edge with 5G. The US fell behind because of many missteps over the last decade, particularly in the Federal Communications Commission (FCC) failing to fill the spectrum pipeline and imposing a series of misguided internet regulations which caused network investment to fall by $1 billion consecutively between 2014 to 2016.

Fortunately, the current leaders at the FCC corrected those errors in 2017, clearing the way for the US to take the lead in 5G with policies to streamline infrastructure deployment and make more spectrum available, specifically in the 3.7 GHz band later this year. These are incremental steps toward encouraging 5G deployment to help the U.S. catch up to China, but the FCC must push forward with policies that make it easier to deploy the next generation of networks nationwide by streamlining regulatory and policy frameworks that inhibit buildout. With leadership at the federal level, states and cities can follow suit and embrace new technologies that improve people’s lives and stimulate growth.

For the EU, it may be too late to come back. While it once created the leading wireless technologies and devices, the EU regulated away incentives to invest and innovate, causing their leadership in investment to plummet and erasing the foundation of mobile R&D in the region. The EU continues to discourage innovation with the heavy-handed General Data Protection Regulation (GDPR), so onerous that many companies have stopped serving the EU altogether and consumers shop less online. The U.S. should not follow this misguided path, but instead allow consumers to try new applications, technologies to compete, and the economy to flourish.

The FCC has taken steps to enact policies to streamline wireless infrastructure rollout and unlock spectrum at the federal level.  Now states and municipalities must do their part to encourage investment. This matters for retailers because the US and China are in a race for the preeminence of ecommerce platforms and applications. If US app providers don’t get 5G networks fast, there won’t be a second chance to win.

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