Virtual Reality in Marketing: Consumer and Retail Perspectives

Although 'extended reality' has been conceptualized decades ago, with the current proliferation of new technologies its application in marketing practice has just recently come to light. Marketing practitioners have found numerous ways of applying new technologies in their practice. Significant advancements have been made particularly with the usage of virtual reality in the domains of consumption and retailing. Through virtual reality consumers gain both purchase and consumption experiences which are beyond the reality they live in. At the same time by using virtual reality retailers create innovative shopping experiences aimed at increasing passion for consumption. This paper presents the theoretical framework in which virtual reality is embedded, followed by discussion of virtual reality from consumer and retailer perspectives.