Retail, an ever-evolving industry, is once again in flux.<\/p>\n
With the advent of VR and AR technology, Retailers are again asking themselves how to best capture the eyes and wallets of targeted consumers. Consumers are no longer shopping simply for ease of convenience, often driving them online, but many are looking for an experience, even better an interactive experience, while they shop. Research from Sonar, J. Walter Thompson\u2019s proprietary research unit, shows that consumers, especially those age 13-17 of Generation Z, are \u201cexpectant of the experiential nature of stores\u2026 79% are more likely to visit stores that offer interactive experiences that help customize products.\u201d[i]<\/a> Additionally, 72% of U.S. millennial consumers surveyed by Sonar \u201cbelieve that as [AI] technology develops, brands using AI will be able to accurately predict what they want,\u201d[ii]<\/a> which consumers see as beneficial.<\/p>\n Lowe\u2019s, similar to other big-name retailers such as Macy\u2019s and Kohl\u2019s, has been hurt financially as consumers continue to shop more and more online.[iii]<\/a> To combat actions such as showrooming, the act of checking out items in a physical store before buying them online[iv]<\/a>, brick and mortar retailers have taken great strides towards creating an omnichannel experience to engage consumers both in stores and in their own online platforms.<\/p>\n In 2014, the Lowe\u2019s Innovation Labs launched the Holoroom, \u201ca virtual reality home improvement design and visualization tool that empowers homeowners with an immersive, intuitive experience in the room of their dreams.\u201d[v]<\/a><\/p>\n