Advancements In The Retail And Fmcg Sector, Growth Of VR And AR Market Outlook: Ken Research.

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1 Advancements In The Retail And Fmcg Sector, Growth Of VR And AR Market Outlook: Ken Research

2 Various established enterprises and new age start-ups have identified the true potential of this industry and are developing and adopting this technology. According to the study, ‘ Virtual & Augmented Reality In Retail And Fmcg - Thematic Research ’, some of the retail and FMCG firs that have put this technology to use include Alibaba, Alphabet, Amazon, Apple, Facebook, Himax, HTC, Sony, Tencent, Vuzix, ANTVR, Meta, L'Oreal and Nestle. In order to ensure ease of shopping in India, companies have been aggressively promoting the use of this technology. The traditional brick and mortar stores have been shifted to an online B2B r B2C or C2C websites. This was done keeping in the rising youth population who were facing the problem of unavailability of time during their schedule and hence the traditional stores shifted to online websites. Virtual & Augmented Reality In Retail And Fmcg - Thematic Research ’ Further developments involved the use of artificially intelligent technologies in order to make the entire process streamlined. The phase of demonetization in India further incentivized the companies to invest in these technologies to make the online FMCG or retail business much smooth. AR is being used to convey the full product information to the buyer. It is also being used by various companies for comparison between two products allowing customers to do comparative analysis. There is a huge scope for the development of AR and VR in the product reviewing and feedback segment which will allow customer feedback to take effect properly.

3 Companies and organizations have been trying to develop artificial intelligence technologies since nearly 60 years but recent trends and developments have been shown that near perfect inventions have been discovered recently. The growth in the technological industry alongside the boom in video gaming industry has led to simultaneous growth in VR & AR industry as well which has made the devices much smaller in size and more immersive. The growth rate in the shipments of VR and AR devices has been immense when compare to 2016 which suggest that not the individuals but also companies are actively adopting this technology to make their operations more smooth and quick. 2016 proved to be the best year for the entire mobile based artificial intelligence industry. Companies are readily adopting this technology as customer interaction and satisfaction has improved greatly with these devices. VR has been incorporated by many retail companies at their physical stores especially outlets such as furniture and other heavy retail products industry. VR is used by these companies to allow the customers to test the product without having physical possession of the same. The benefit that the company gets is that they do not have to maintain huge stock of goods which may lead to unwanted inventory accumulation. The customers do not have to wait for the product to be made available physically.

4 The potential for this industry globally is immense and the market will be seeing huge growth in the future. The competition landscape is fragmented with many companies currently trying to adopt this technology and use it to their advantage. There has been much collaboration between technology giants and retails and FMCG companies which are trying to integrate this technology and make the best out of the both. For more information on the research report, refer to below link:- https://www.kenresearch.com/technology-and-telecom/it-and-ites/virtual- augmented-reality-retail/152706-105.html Related Reports:- https://www.kenresearch.com/technology-and-telecom/it-and-ites/virtual- augmented-reality-retail/152619-105.html https://www.kenresearch.com/media-and- entertainment/telecommunications-and-networking/virtual-augmented- reality-tourism/150927-94.html

5 Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications Sales@kenresearch.com +91-9015378249 Sales@kenresearch.com