Virtual Reality and Augmented Reality in Retail - Fad or Future?

At the beginning of a long development cycle

Despite the presence of low-end options and development buzz beforehand, 2016 will go down as the beginning of the consumer-facing virtual and augmented reality epoch. To take from an adjacent product, consider how much smartphones have changed since Apple released its very first iPhone in 2007. With plenty of time for innovation and competition, much will change in the coming years.

Brands without satisfying answers to existential questions may be better off investing elsewhere

To justify an investment in a new technology, it is important to have the existential considerations figured out, otherwise initiatives are likely to fall at the first hurdle. Brands must be able to articulate the business purpose, determine if the corresponding consumer use cases are enough to bring about real adoption, and figure out if the technology is even sophisticated enough to deliver both of the above.

The business purposes are varied, but some hold more promise than others

These technologies appear to have the following broad business purposes - traffic driving, traditional marketing, service enhancement, and translating the store into a virtual interpretation. All show some level of promise and current implementation, but traditional marketing and pre- and post-purchase services hold the most.

Those that enter the space will need to keep the customer in mind at all times

Some initiatives can survive by targeting the masses and hoping something sticks. This is an untenable strategy for virtual and augmented reality initiatives. Determining what sort of shopper this technology serves and convincing them that it is a good fit into their everyday lives and purchasing patterns will be of utmost importance.

User adoption is still in the early stages, so build from what already works

Even rival virtual reality headset producers are giving each other access to their platforms for the time being to help promote consumer uptake. There is plenty to be done in figuring out what works with what. Retailers need not reinvent the wheel - iteration from current user behaviours with the help of tech experts is a good idea.