The Future of Shopping: Virtual, Mixed, and Augmented Reality

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The Future of Shopping:
Virtual, Mixed, and
Augmented Reality
David Nickens
Head of Emerging
Technology at
Ferguson Ventures

The Road to Immersive Commerce
The Future of Shopping: Virtual, Mixed, and Augmented Reality
Dave Nickens
Knower of XR Commerce Things

2
Who you?
➔ Technology Geek
➔ Product Leader & Team Builder
➔ 20 Years of Tech Innovation Experience
➔ Award Winning App Builder (build.com)
@DaveNickens
linkedin.com/in/dnickens
crunchbase.com/person/dave-nickens
24

CIO Review
May 2018
Retail - CIO Outlook
September 2018
25
Speaking Engagements
Podcast

Immersive Commerce
Immersive commerce or iCommerce is an extension of E-commerce that focuses on improving customer
experience by using advanced digital technology to create virtual smart stores from existing brick and mortar
locations.
Rather than an iteration of traditional eCommerce,[1][2][3][4] iCommerce is a form of online shopping that
blends physical elements of traditional stores (i.e. rows, shelves, racks, counters, etc.) with digital elements of
traditional eCommerce web sites (i.e. mobile commerce, electronic funds transfer, supply chain management,
digital marketing, online transaction processing, electronic data interchange, inventory management systems,
automated data collection systems and CRM). Immersive commerce platforms give consumers the ability to
browse and shop aisles of a virtual store using any online device.
Customers can view three-dimensional images of all products within a retailer's SKU inventory. For retailers,
iCommerce seeks to provide omni-channel touchpoint data from the customer, including from social media,
allowing retailers to continually optimize their offers in real time. It also provides retailers with an increased
ability to market their brands and provides co-branding opportunities with suppliers.
26

Yea, but what IS Immersive Commerce?
Location
Product
Data
Immersive Commerce
Digitally Enriched Experience
Digital Twin
aka 3D Model
27
User Device
Device
Software

Yea, but what is Immersive
Commerce?
28
Physical + Digital
using Metadata or
a 3D Digital Twin
to Enhance the
experience.

So, What is a Digital Twin?
Digital twin refers to a digital replica of physical assets (physical twin), processes, people, places,
systems and devices that can be used for various purposes.[1] The digital representation provides both
the elements and the dynamics of how an Internet of things device operates and lives throughout its life
cycle.[2]
Digital twins integrate artificial intelligence, machine learning and software analytics with spatial network
graphs[3] to create living digital simulation models that update and change as their physical counterparts
change.
In various industrial sectors, twins are being used to optimize the operation and maintenance of physical
assets, systems and manufacturing processes.[4] They are a formative technology for the Industrial
Internet of things, where physical objects can live and interact with other machines and people virtually.[5]
In the context of the Internet of things, they are also referred as "cyberobjects", or "digital avatars"[6].
A digital representation of a
physical counterpart….aka 3D
Model.
29

Yea, but what is it?
XR Augmented
Reality
Virtual
Reality
Mixed
Reality
31
Physical & Digital Co-existence
Fully Simulated Environment Real World Objects are Changed
or overlaid with Data

Augmented (AR) - Physical Retail
32

Augmented (AR) - Home Shopping
33

Mixed (MR) - Physical Retail
34
Rakuten Blog - How mixed reality could spice up bricks-and-mortar shopping (10/2017)

Virtual (VR) - Home Shopping
35

AR/MR - Who are the players?
Vuzix is at $47.9M after 6 rounds of funding including Intel Capital after 2013 Start.
36

AR/MR - Who are the players?
Magic Leap’s AR Headset now available for $2,295 after $2.3
billion from big names like JPMorgan, Google, Alibaba and AT&T.
2011 Start.
37

AR/MR - Who were the players? ;-)
38

AR/MR - Who wants to be a player?
Mark Zuckerberg said at F8 2017 that AR glasses were 5 to 7 years away.
Facebook’s head of AR Ficus Kirkpatrick told TC in Oct ‘18 - “We are building hardware products.
We’re going forward on this . . . We want to see those glasses come into reality, and I think we want to
play our part in helping to bring them there.”
39

In-Store @ Walmart
40
“...point it at the products on the shelf you want to compare. As you move the
phone between one item and the other, the product tile at the bottom of the screen
will update with information, including the product name, price and star rating
across however many reviews it has received on Walmart.com.”
VIDEO

The Road to Immersive Commerce
41
Are you willing to put this
technology on your face?

Magic Leap + AT&T 5G
42
Would you buy a $2,300 TV
Headset solution?
What if this Headwear =
New screen for all
computing, shopping, and
gaming experiences?

Pay the $$ for Gaming?
MagiMask Kickstarter @ $99 goes past goal of $25K in 1 Day
43

The Road to 2021
You are HERE Future Focus
44

45
So What?! Why is this important?

Why is this
Important?
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
46
● VR Searches have increased 300% in the
past year
● 360-degree Views & VR Google Findings
○ Increase Engagement
○ Increase Time spent on site
○ Increase Video Views, shares,
○ Increase subscriptions
● VR will Generate Approx $30B in Spending
by 2020
Source: medium.com

Why is this
Important?
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
47
● Airbus, for its part, has reduced inspection
time of aircraft under production by 86% by
allowing assembly workers to step into
complete 3D models.
● Ford is decreasing the risk of employee injury
by 70%
● Ford is decreasing ergonomic issues by a
90%
Source: VentureBeat.com

60%Increase in
Conversion when
using MR for Product
Visualization
$6:1 ROI
48Source: Marxent Labs

4X
Increase in Time
Spent when using
MR for Product
Visualization

$70B
Spent each year in the US on Workforce Training
➢Read a manual - Retain 5% - 15%
➢Watch a video - Retain 20% - 30%
➢Perform a task - Retain 70% to 90%
50

80%Increased
Knowledge
Retention when
Virtual Reality
Training or Education
is deployed 51
Microsoft HoloLens Partner Spotlight with Case Western Reserve University
Source: 360Immersive.com

80%
Reduction in Returned
Products when using
XR Shopping

11x
More likely to Purchase
Goods via your Mobile
App when using AR
53Source: artillry.com
Photo Credit: ProlificInteractive.com

2.7x
Increased Time Spent
in AR enabled Apps
54Source: artillry.com

50%
Increase in Average
Transaction Size
55Source: Marxent Labs Credit: Build.com

30%
Reduction in Average
Sales Cycle when
using 3D Design &
Visualizations
Photo Credit: VRroom.buzz

An inflection point is coming...
58

Parting Comments
➢ Showrooming - Physical Retail locations become touch-and-feel-hubs
○ Store Owners pay the overhead for the location, but don't get the sale!
What is your differentiator?
➢ Content is KING - Find Digital Twins to Power fully Immersive Experiences
○ Be like…. Amazon, Wayfair, Williams-Sonoma (Outward $112M),
Walmart (Spatialand), Overstock, etc
59

Parting Comments
➢ Work on your Data Foundation
○ Product Metadata
○ Product Descriptions
○ Product Images
➢ Have an Immersive Content
Strategy to support your unique
shopping experience
60

Open Discussion
& Feedback
61
@DaveNickens
linkedin.com/in/dnickens
crunchbase.com/person/dave-nickens

Gartner Hype Cycle - VentureBeat
62

The VR Market - VentureBeat
63

Ralph Lauren’s Polo Store on 5th Ave Manhattan
66

An inflection point is coming...
67
Photo credit - CIO Outlook

The Future of Shopping: Virtual, Mixed, and Augmented Reality

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