Virtual Reality Will Generate $1.8 Billion Revenue in 2022, Says ABI Research
Virtual reality is poised to generate $1.8 billion for retailers in 2022, said a Wednesday ABI Research report. VR technology can build on e-commerce and digital marketing by letting shoppers visualize and personalize products more realistically, said analyst Khin Sandi…
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Lynn. Furniture and home improvement stores Ikea and Lowe’s have been early adopters of VR at retail, allowing customers to view furniture, pick different parts, customize products and visualize an item before buying, she said. Chinese e-commerce company Alibaba deployed its Buy+ mobile VR platform for better product visualizing and integrated its Alipay payment platform to help consumers make a payment while browsing products using Buy+ VR, said Lynn, saying consumer interest in shopping using VR is high online and in stores.