Exploring Virtual Reality Technology and Its Applications in Retail Industry

|
Recent Trends in Virtual Reality

Contents
1 Rationale.............................................................................................................................................3
1.1 Problem domain.........................................................................................................................3
1.2 Purpose and justification............................................................................................................4
2 Sponsor or Supervisor recommendation.............................................................................................4
3 Research Questions.............................................................................................................................5
4 Conceptual or Theoretical Framework................................................................................................5
5 Methodology.......................................................................................................................................5
5.1 Research and Systems Development method(s).........................................................................5
5.2 Data collection...........................................................................................................................6
5.3 Compliance Requirements (Workplace, Industry or Government regulations)..........................7
5.4 Analysis of data..........................................................................................................................7
6 Project Plan.........................................................................................................................................7
6.1 Deliverables...............................................................................................................................7
6.2 Work breakdown structure (WBS).............................................................................................8
6.3 Risk Analysis.............................................................................................................................9
6.4 Gantt chart..................................................................................................................................9
7 References........................................................................................................................................12

1 Rationale
1.1 Problem domain
This project explores the Virtually reality (VR) technology and its applications in enterprises. It
identifies an opportunity of installation in a retail organization for the improvement of the
experience of the shoppers so that they give more business to the retailer. The research would
explore different types of VR technologies and identify their potential applications in retail
customer service scenarios.
Virtual reality is an immersive technology that provides a digital discretion of a scenario that
exists for real. It replicates a real environment and creates its stimulation. To build this
simulation, special equipment’s are required such as Google Cardboard and VR headsets like
HTC Vive, Samsung Gear, and Oculus Rift.
The increasing popularity of VR applications has some driving forces behind such as
accessibility options, Internet of Things (IoT) ecosystem, robotics, and platform support for
technology. In the Internet of Things (IoT) environment, consumer journey can be tracked across
channels which gives an opportunity to implement VR equipment’s in different consumer
environments that can help a retail gather the contextual information about a consumer through
these devices. Robotic devices with VR immersion can be used to build new forms of hardware
that can enable a multisensory experience for consumers. Smart mobiles are used by many
consumers today. These devices come with good computing power and long battery life that
allows them to use VR applications for virtual recreation of the world around (ICEM, 2016).
VR can be used in retail for acquiring data, creating experiences, and providing customer
support. Acquisition can be used for creating immersive brand experiences, running product
trials on consumers, creating customized offers for consumers, providing navigation facility to
store visitors, capturing product history, and creating brand differentiation (Hidalgo, et al., 2016).
VR is used for conversion which involves promotion of remote consultations, creation of
immersive virtual store experiences, and running schemes for in-store engagement. Special
offers and behavioral nudges can also be created with VR support for retention of customers
(White, Robertson, & Compernolle, 2017).

1.2 Purpose and justification
When virtual reality is used in retail, a fully immersive setting can be created in which a real
retail environment is replicated to stimulate senses of consumers so that they can feel stronger
associations with the brand. Major applications of VR in retail industry include pre-planning for
consumers to be able to take fast purchase decisions, gamification to provide support products,
information delivery through virtual coupons, building scenarios for product customization,
product activation through storytelling, virtualization to help consumers search products, and so
on. VR can help a retail store in a number of ways through these applications such as increase in
retention rates of consumers, higher conversions, increase consumer engagement, and more
(Morya, Nigam, Rehman, & Kumar, 2016). With these benefits realized, retailers can achieve higher
revenues and gain brand loyalty with better consumer engagement. Thus, Virtual Reality(VR)
makes a promising technology for retail business. Thus, this research would explore how it can
be used in different scenarios in retail to gain business benefits in different ways (Williams &
Herry, 2016).
2 Sponsor or Supervisor recommendation
The sponsor organization for the project would be the retail organization that is planning to
enhance its consumer experience in the stores through the best use of technologies and virtual
reality can be an option for them. The sponsor has provided some recommendations while it is
being planned to implement VR in the retail organization (Kruh, Coonan, & Devan, 2017). These
include:
 Samsung Gear Virtual reality equipment may be used with the users to connect them with
the company remotely to give consumers the experience of the physical store.
 The VR equipment can be used at the retail store for giving consumers a virtual journey
of the latest fashion shows with labels sold in the store.
 Shoppers must be allowed to try different clothes through a 3D avatar that can be created
using a kiosk at the store which would scan the body of a consumer to create an avatar
and then the installed VR application would create the simulation (Beresford, 2017)