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Virtual Reality And Augmented Reality Offer Retailers New Ways Of Reaching Customers

September 9, 2016: 12:00 AM EST
Virtual reality and augmented reality technologies are expected to significantly affect the retail industry. Retailers seeking to integrate VR and AR into their business models should first decide which technology to use for specific applications, then determine whether the application is for in-store or out-of-store use. Also, retailers need to identify their customers who would prefer an AR or VR solution, then establish the technology's value proposition. Retailers need to connect the solution to their business model, establishing measurable financial or customer-engagement objectives to make sure the VR/AR solution is creating value for the business.
Dan McKone et al, "Virtual and Augmented Reality Will Reshape Retail", Harvard Business Review, September 09, 2016, © Harvard Business School Publishing
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