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How Virtual Reality is Reshaping Business

Written by Business World, on 4th Oct 2017. Posted in General

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Technology has been advancing in leaps and bounds and it is making its way into all aspects of our lives, from medicine and education to construction and retail, and everything in between. One of the most important technologies to be developed and gain momentum is Virtual Reality (VR) and its sister technology, augmented reality (AR). This technology, which immerses a user into a Virtual Reality with a full sensory experience is now making its way into all types of business.

Virtual Reality requires a headset that provides a sensory experience and can transport you into a new environment. This can be used in many industries, taking users on virtual tours of buildings or holiday locations. For example, it can let users try on clothes without actually being in the store, meeting and interacting with a date, or immersing a player into a game environment. As the technology is advancing, businesses are seeing that in order to keep up with their customers’ needs and wants, they need to embrace this technology and apply it to their products. There are already a number of industries that are moving in that direction, and here are just a few of them.

The Travel Industry

VR can be particularly powerful in the travel industry as it provides a visual and immersive experience. An immersive environment in the travel industry would allows users to be taken on virtual tours of an airport and its lounges, of hotels with its rooms and amenities, of attractions in a location or of car rental companies with their different vehicles and services. Customers will now be able to gain a real feel of an experience before they actually commit to their travel itinerary.

The Dating Industry

Many people think of VR only in terms of retail or gaming industries, but what if VR can help people experience connections or relive memories. What if a 100 year old man could relive his first date with his wide or experience a holiday he went on with his family 60 years earlier. Or, people can go on dates to all sorts of exotic places, for example, space, without physically being in the same place. These exotic experiences offer unique opportunities for two people getting to know each other and can connect people around the world.

Casino

The online gambling market is massive with over 4.3% of UK Iphone users downloading gambling apps and using online casino’s.  however, gamers are looking for new experiences, particularly immersive and interactive gaming experiences. Casinos are fast seeing that VR is a new way to attract customers and set a casino on a level above its competitors, and some of the top software providers in the industry are now beginning to develop VR gaming options.

The Shopping Industry

There are many opportunities available in the retail shopping industry. Two people, in different cities, can meet in the same store to look at a product. Someone can go to a store and try on a garment, without even leaving the office. Users can wander around stores like Ikea, between the furniture, choosing items to put into their trolley. This creates more competition and can increase brand affinity among consumers, especially among younger consumers who have indicated they prefer mixed reality retail experiences.

Conclusion

As we have pushed for a more technological world, advances in technology have infiltrated all aspects of our lives. Technology drives all of the big industries and with time, as the stakes increase and technology continues to advance, businesses need to move with the times and find ways to introduce the new technology into their products and services. Virtual Reality is becoming the way of the world as it offers a whole new level of customer experience.

 

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