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VR in Retail and Marketing
As technology innovation continues to change the retail and marketing sector, virtual reality technology is the next innovative technology to improve retail and marketing. Furniture stores, E-commerce companies, automotive, and travel companies have deployed VR for retail and marketing purposes. Consumers' awareness in VR technology together with investment by the brands and retailers is driving the virtual reality deployment in retail and marketing.
This report discusses VR use cases, VR deployments, market drivers, and challenges for deployment in VR retail and marketing segment. VR solution providers providing retail and marketing solutions including InstaVR, InContext Solutions, Marxent, V-Cult, Virtalis, VividWorks are presented in this report. The report also includes the market forecast for VR HMD shipment in retail and marketing as well as regional revenue forecast generated by software and services.Continue
Reports & Data
Customer-centric retail strategies typically aim to reduce in-store friction and offer more engaging and tailored experiences that will drive traffic to stores and improve retention rates. However, by focusing almost entirely on the store itself, retailers are in danger of having a blinkered view of retail; this can downplay the importance of supply chain operations in maintaining customer loyalty. Ironically, this attitude is preventing many brick-and-mortar stores from satisfying their customers to the best of their ability, despite their store-centric approach.
This week Intel, Foxconn Technology Group, and Asia Pacific Telecom offered their first public demonstration of facial recognition technology for retail usage. Some of the applications demonstrated included residential and business access control, a virtual shopping service app, and retail payment apps. Intel’s solution utilizes multi-access edge computing (MEC) 5G and artificial intelligence (AI) to enable the services.
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With recent examples appearing of retailers deploying innovative AI and robotics solutions, it remains to be seen how quickly the wider industry will adopt these potentially game-changing technologies. Amazon Go – reliant on AI, machine vision and intelligent automation – is widely tipped to establish itself as a future operating model in the grocery sector. While the use of automated pickers in e-commerce fulfillment by the likes of Ocado and the emergence of Fellow and Bossanova robots in brick and mortar retail also suggest an automated revolution will soon be transforming the industry. However, the enormous cost of these solutions combined with social and operational barriers may mean the imminent marriage of AI and robotics in retail is further away than initial case studies would suggest. By examining market trends, real life use cases and the market’s key players, it's possible to see how the future of retail will be impacted by smart, automated solutions.
This webinar will address the following questions:
- What are the main use cases for AI and robotics, and will more emerge?
- Which companies are leading the way? From a retailer perspective and a solution provider perspective?
- Which barriers are most likely to inhibit adoption, and how likely are these to be removed?
- Which use cases/companies will be first to deploy and when?
- How will AI/Robotics affect human employees and operations?
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