April 20178 We live in transformative times when new technologies are changing the world as we know it. Virtual Reality (VR) and Augmented Reality (AR) are both extremely promising new technologies with the potential to disrupt retail in exciting ways. We are already seeing the introduction of 'retailtainment' in stores by retailers, wherein entertainment merges with retail to deliver unique and engaging experiences. It isn't an exaggeration to say that virtual commerce, just like e-commerce, will be an important part of every retailer's strategy in the near future. Some projections put AR and VR investment in retail globally at close to $30 billion by 2020.With e-commerce, shoppers have already stopped associating retail with merely tangible experiences in the physical realm. With the addition of VR & AR to this online experience, their visual and auditory senses will come into play as well with entertaining realities in a meaningful and immersive way, creating retail experiences like never before. VR will help enable engaging experiences that allow customers to not just look at the product they want to purchase but also get an experiential feel of the product aligned with the brand's identity! That's exactly what leading American outdoor apparel brand North Face did ­ they created a VR experience that took shoppers to Yosemite National Park. Inside, you could virtually shop in the brand's stores, and even tour the park and climb rocks. This is the kind of experience shoppers, especially those who identify strongly with a particular brand, would enjoy. In another impressive instance of VR use, Samsung installed zones at a shopping centre in London where shoppers got to experience the brand's VR products. Visitors enjoyed different VR experiences, of which the most popular was the one where they were taken on a thrilling rollercoaster ride at California's Six Flags Magic Mountain Amusement Park. The zones drew nearly 1,25,000 visitors in just two and a half weeks! What this shows us is that shoppers are open Intel empowers the majority of the world's data centers, connecting millions of mobile and Internet of Things devices. It also secures and protects enterprises and government IT systems. Founded in the year 1968, Intel is presently operating from California, U.S.IN MY VIEWBY AMIT MANGWANI, DIRECTOR, RETAIL MARKETING, INTEL, ASIA PACIFIC AND JAPANTRANSFORMING RETAIL WITH VR & AR
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