Virtual reality to Market Research

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Virtual reality to Market Research

Virtual Reality (VR) was subject most discussed at the end of 2016, being considered one of biggest trends in 2017. Without doubts VR is one of the biggest bet in technology  innovation in the past years, and is ever more present in the consumers life and on the marketere’s radar. But how this technology can be used in market research?

How it works

Before understanding the application of VR in market research it is necessary to understand what VR is and how it has been applied in several areas. 

VR is a 3D simulation of an environment where users can interact in a realistic way. This is done with a headset and/or gloves with tracking sensors. 

According to a major study by Goldman Sachs, conducted last year, it is estimated that by 2025 the virtual reality market will be about $ 22.46 billion for games, events, health, engineering and entertainment videos market.  

In many countries several companies already use VR to promote actions that generate brand recognition, promoting immersive experiences that lead consumers to develop a greater connection with the brand. 

How VR can be applicated on Market Research 

VR can be used to expand and develop more assertive tools already used in market research. For example when incorporated into eyetracking and heat maps, you get a comprehensive view of consumer desires. 

Another application can be for a consumer behavior analysis in a sale environment simulation. Approximately 70% of purchasing decisions occur when consumers are inside a store. Now imagine projecting your store to any consumer, anywhere. Virtual reality can simulate the buyer journey in the store in real time and in depth. 

The e-commerce store Alibaba has promoted a VR experience for Chinese consumers at the largest retail date in China, “Single Day”. Through a platform, users could have a 360 ° view of the store and select products to buy. Another example is the use of VR by the company Nike to publicize its new product, giving consumers the experience of participating in a football match from the perspective of the player Neymar. 

 

Virtual reality has come to conquer the consumer market, proving how powerful and affordable it can be for online and offline commerce. VR formats are already present and being used by companies like Coca-Cola and Heineken in social networks, besides being already used in the broadcasting of large events. The perspective is that this format will become increasingly popular and reach online communities, promoting immersive experiences that allow to gain an more accurate insight analysis. 

Virtual Reality offers a complete and immersive experience and interaction; and, experience and interaction is key for any market research study. 

References: ÉpocaMarketingImobMITIFlexinterativaDigitalksNDGComputerworldStartupi, Flexmr