Virtual reality (VR) and related technologies are changing the way consumers interact with products and brands, according to a report released by PYMNTS, Boston.
The study, “The Virtual Reality in Retail: 2019 and Beyond,” tracks how retailers and other merchants are incorporating VR to give themselves an edge over their competitors.
Highlights from the report entail:
- VR is expected to generate $1.8 billion for retail and marketing in 2022.
- The number of VR users more than doubled in 2018, growing from 85 million to 171 million.
- Revenues from VR initiatives are expected to increase by 3,000% over the next 4 years.