KEY POINTS

  • The relatively recent proliferation of business-focused VR headset packages is making it easier for more companies to use the tech. HTC was the first major VR manufacturer to launch a business edition of a VR headset — dubbed Vive Business Edition — in June 2016, and it offers warranties, customer support, and commercial license along with the PC-powered Vive headset. Since then, both Oculus and Microsoft have launched their own enterprise packages and services to cater to this audience.
  • As more business-focused headsets hit the market, enterprise VR adoption is expected to grow considerably in the coming years. Business Insider Intelligence expects worldwide enterprise VR hardware and software revenue will jump 587% to $5.5 billion in 2023, up from an estimated $800 million in 2018.
  • But that’ll only happen if enterprise use cases become more clearly defined. Thirty-eight percent of businesses in the US, the UK, and Canada stated understanding clear use cases as a primary barrier to implementing new technology, according to Comptia.
  • Retailers and brands should focus on implementing VR into their sales, training, and production processes as early as possible to get an edge over other industry players.
  • VR has the unique ability to improve the sales process by bettering three key parts of the customer shopping experience:
    • The technology enables retailers to expand the number of products offered to customers in-store. VR can showcase as many products in its digital environment as a business desires, which is especially valuable for retailers that sell larger products that may not fit in stores, like furniture. This could be instrumental to boosting sales, as 28% of consumers in the US, the UK, and Germany listed a large selection of items as the second most important factor in choosing a brick-and-mortar retailer, according to Scandit’s 2018 Retail Consumer Survey. We explore this idea further in a case study about Macy’s and Marxent.
    • VR allows businesses to demo products in their natural environments. The technology allows retailers to build the most natural environments in which to showcase their products. For instance, a retailer could display its kitchen products in a full-scale virtual kitchen instead of on shelves like it traditionally would. This gives consumers a [...]