IHS Markit Publishes Virtual Reality in Retail Blog

IHS has published a new blog detailing the discussion of a panel held at June’s Electronic Home Shopping Conference in Venice, Italy.

The panel, featuring the blog’s author Maria Rua Aguete alongside three industry leaders, considered virtual reality and whether the technology has any practical place in the retail sector.

Statistics in 2016 showed that VR headsets tethered to mobile devices were still an outright winner in terms of install base, with 16 million users, compared to much lower numbers found to be using VR with their PC or games consoles, as well as standalone headset units.


The report also touches on the significant investment in VR from companies such as Facebook, Google and Samsung, and highlighted Facebook’s new VR platform Spaces, where consumers can create a digital avatar and use their VR device to interact with other users in a virtual environment.

The panel discussed possible uses of VR in retail, such as car customisation, virtual walkthroughs for real estate, hotels or interior design, and e-commerce. The report points to Chinese retailers Alibaba’s Buy+ application, which allows consumers to shop in a virtual environment.

The blog also looks at the growth of the industry versus that of other technology of its time like Blu-ray and 3D TV. Statistics show that VR is already more successful than 3D TV ever was, as manufacturers have already ceased production on most if not all of their 3D products, and a lot of channels that provide 3D content have closed down.


You can read the blog in full by clicking here.