How much should brands invest in virtual reality?

November 4th, 2016walmart-birds-eye

Advertising Age Brand Summit convenes in Los Angeles this month.  Attendees have plenty of pressing issues on their minds, especially when it comes to how to execute more effective marketing without breaking the bank.  The top issue at the summit is, “How much should brands invest in virtual reality?”

Virtual Reality is no longer new or just used by innovators.  Brands and retailers have been using Virtual Reality for years to reduce the time and expense associated with physical store configurations.  Cloud-based sharing capabilities put the power of Virtual Realty on every desktop.  This dramatically improves collaboration both internally and externally.  Now more stakeholders can contribute to in-store merchandising recommendations and improvements.

Recently a global retailer used Kantar’s virtual reality capabilities to reinvent a new store entrance and prove its effectiveness among current shoppers and non-shoppers alike.  The savings in time and money virtual reality delivered over constructing a real life trial are obvious.  But VR also gave the retailer feedback on the change from non-shoppers.  Since non-shoppers don’t shop the physical store, that feedback would not have been gathered with a physical prototype.

When it comes to the shopper retail experience, Virtual Reality is how leading brands are getting better results from their in-store campaigns.  As you think about incorporating Virtual Reality into your overall market strategy, consider how VR can reduce the cost and time to implement and deliver a better in-store experience for shoppers.

Questions or comments about Virtual Reality?  Contact us.