Big Data and VR Combine to Drive Retail Sales

As virtual reality (VR) and augmented reality (AR) use has grow VRFocus has seen greater adoption in the retail industry, from designing store layouts to prefect the consumer experience to AR apps that let consumers put virtual objects in their homes before purchasing. Today, Kantar Consulting, a newly launched specialist growth consultancy has announced the introduction of Perfect Category, a technology solution that enables brand owners and retailers to design physical retail environments in VR and simultaneously forecast the revenue impact of design decisions.

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Perfect Category allows a user to bring multiple datasets together, allowing scenarios and designs to be tested in real-time. It features two of Kantar Consulting’s Retail, Sales and Shopper practice offerings, VR Studio and Richmix. VR Studio is a design environment used by brands like L’Oréal, Walmart and Unilever, to create and roll out retail designs and updates across their store networks.

Richmix is an optimisation tool that integrates purchase spend data from retailers and brand owners with measured and observed shopper behaviour to create algorithms that utilise machine learning to forecast the economic outcomes of changing the number of products and brands a shopper sees on the shelf.

“Retail is a constantly evolving competitive environment with new markets, competitors, and technologies,” commented Jeremy Cohen, CEO of Kantar Consulting’s EMEA Retail, Sales and Shopper practice in a statement. “Brand owners and retailers alike are increasing demand to deliver creative ideas that add value to consumer experiences and drive category growth and shopper loyalty. Perfect Category improves collaboration between retailers and brands by delivering creative category propositions which will entice shoppers and deliver the strongest sales results.”

Kantar shelf value web

Using both VR Studio and Richmix, brand owners and retailers are able to co-design retail environments that optimise the shopper experience, evaluating and approving designs that can then be automatically distributed across retail networks with detailed designs and immersive visuals to ensure a consistent brand experience. As further work in conducted in this field using VR, VRFocus will keep you updated.