VR and AR to ‘revolutionise e-commerce’

Virtual reality and augmented reality are set to “revolutionise the e-commerce industry” and reach a predicted value of US$150 billion (€142 billion) by 2020, according to Warc.

The marketing and ad agency claims that the VR and AR will offer “viable ways for brands to engage emotionally with consumers in 2017” and are a key trend that marketers will be looking to in the coming year.

“VR and AR are not new technologies – but 2016 saw them really emerge as marketing platforms. A lot of money is now going towards VR in particular as brands seek fresh ways to engage consumers,” said Warc’s head David Tiltman, Warc’s head of content.

“As the advertising marketplace becomes more cluttered and many people opt out of receiving marketing messages, brand experiences that can cut through are increasingly valuable.”

The Warc report, produced in association with Deloitte Digital, highlighted retail and travel brands as early adopters of VR and said that many brands had also reconsidered AR following the success of mobile game Pokemon Go.