Retail & eCommerce Committee
Our 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 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.
This committee is creating best practices, guidelines, and call to actions, and standards (e.g., 3D object modeling) for Retail & eCommerce as it relates to VR and AR.
Sterling Hawkins, Center for Advancing Retail & Technology (CART)
Jonathan Moss, Sprint
Vacant - if interested, email email@example.com
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.