Walmart's Store No. 8 is Imagining the Future of Retail with Virtual Reality
Laura McQuarrie — October 24, 2017 — Tech
References: storeno8 & prnewswire
Walmart's Store No. 8 recently held its first-ever Innov8 gala with a focus on sharing forward-thinking virtual reality retail experiences that have the potential to reshape the future of commerce. Some of the major themes that were addressed included: scan and capture, rendering, social interaction and product education.
8i and Bonobos came together for an exhibit that showcased volumetric video technology that creates photorealistic holograms of people. This technology makes it possible for shoppers to select virtual shirts from racks and get a sense of a true-to-life fit. Similarly, exhibitors Fyusion and ModCloth created an experience where photorealistic 3D images could be made with just a smartphone for the purpose of simulating the look of an item, virtually.
Also at Innov8, Obsess and Rebecca Minkoff created a fully interactive, digitally rendered store space. Other exhibitors including Nurulize and Specular Theory explored the use of VR for the creation of social shopping experiences and education.
8i and Bonobos came together for an exhibit that showcased volumetric video technology that creates photorealistic holograms of people. This technology makes it possible for shoppers to select virtual shirts from racks and get a sense of a true-to-life fit. Similarly, exhibitors Fyusion and ModCloth created an experience where photorealistic 3D images could be made with just a smartphone for the purpose of simulating the look of an item, virtually.
Also at Innov8, Obsess and Rebecca Minkoff created a fully interactive, digitally rendered store space. Other exhibitors including Nurulize and Specular Theory explored the use of VR for the creation of social shopping experiences and education.
Trend Themes
1. Virtual Reality Retail Experiences - Disruptive innovation opportunity: Develop VR platforms that allow customers to virtually try on clothing and visualize products in a realistic way.
2. Volumetric Video Technology - Disruptive innovation opportunity: Create holographic displays that enable customers to interact with lifelike virtual representations of products.
3. Digitally Rendered Store Spaces - Disruptive innovation opportunity: Design fully interactive VR environments that recreate the shopping experience and engage customers in a new way.
Industry Implications
1. Retail Technology - Disruptive innovation opportunity: Integrate VR technology into existing retail platforms to improve customer engagement and purchasing decisions.
2. Photography and Imaging - Disruptive innovation opportunity: Develop smartphone-based imaging technology that can generate photorealistic 3D images of items for virtual try-on experiences.
3. Fashion and Apparel - Disruptive innovation opportunity: Collaborate with VR developers to create immersive retail experiences that showcase fashion products and provide personalized recommendations.
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