Story image

Research finds people believe VR/AR to be as popular as smartphones

02 Jun 17

New research has discovered more than half of Australians believe virtual and augmented reality (VR and AR respectively) technology will be as popular as smartphones in years to come.

Worldpay’s research queried 2,000 consumers in Australia to get their viewpoints on VR and AR adoption – from current uptake and future potential, to the technology’s benefits and barriers. 

The study shows that despite many Aussie consumers not actually having tried VR or AR for themselves, the majority are confident that it will live up to the hype.

Some of the key findings in Australia include:

  • 76 percent  say VR and AR technology has specialist uses in certain industries, such as travel experiences (83 percent) and design (83 percent)
  • More than half (52 percent) believe VR and AR may become as popular as smartphones in the future
  • 61 percent say VR and AR could someday change the way we shop
  • However, less than 1 in 5 think that VR and AR could spell the death of brick-and-mortar stores
  • Just 23 percent said that the ability to visualise a product or experience in VR/AR would make them more likely to impulse buy
  • Only 22 percent of respondents have actually used VR technology

General manager for Asia Pacific at Worldpay, Phil Pomford says Aussie consumers are cautious in their adoption of VR and AR technology, with only 14 percent describing themselves as early adopters.

At the same time, the majority are confident that VR and AR is here to stay,” Pomford says.

“They think these technologies have a place in Australia’s future; whether it’s helping skilled trade industries carry out repairs, enabling automotive companies to design more accurate prototypes, or creating new Omni-channel retail experiences for online merchants or bricks-and-mortar stores.”

When it comes to retail, 50 percent said they want to see VR in stores and use the technology in retail apps, while another 52 percent said they would consider making a purchase while using a VR or AR device.

Security of payment details was noted as the main barrier to VR shopping for 46 percent of respondents. Of those who wouldn’t currently feel comfortable purchasing a product or service using VR, some said they might be swayed if they could pay via a method such as PayPal (39 percent) or using a secret code (30 percent).

To help overcome the perceived security barrier, researchers at Worldpay are investigating how shoppers can pay using a credit or debit card while remaining immersed within a virtual environment, and have in fact already created a proof of concept to virtualise the process of purchasing an item.

“As more companies experiment with VR/AR in their endeavour to drive higher customer engagement, they need to consider if VR technology can support purchases as well,” Pomford says.

“Whatever sales channel, it’s vital to make the payment process both slick and secure for customers. A compelling, immersive and seamless VR experience may even have the capability to increase sales.”

Wine firm uses AR to tell its story right on the bottle
A Central Otago wine company is using augmented reality (AR) and a ‘digital first’ strategy to change the way it builds its brand and engages with customers.
DigiCert conquers Google's distrust of Symantec certs
“This could have been an extremely disruptive event to online commerce," comments DigiCert CEO John Merrill. 
Protecting organisations against internal fraud
Most companies tend to take a basic approach that focuses on numbers and compliance, without much room for grey areas or negotiation.
Telesmart to deliver Cloud Calling for Microsoft Teams
The integration will allow Telesmart’s Cloud Calling for Microsoft Teams to natively enable external voice connectivity from within Teams collaborative workflow environment.
Jade Software & Ambit take chatbots to next level of AI
“Conversation Agents present a huge opportunity to increase customer and employee engagement in a cost-effective manner."
52mil users affected by Google+’s second data breach
Google+ APIs will be shut down within the next 90 days, and the consumer platform will be disabled in April 2019 instead of August 2019 as originally planned.
GirlBoss wins 2018 YES Emerging Alumni of the Year Award
The people have spoken – GirlBoss CEO and founder Alexia Hilbertidou has been crowned this year’s Young Enterprise Scheme (YES) Emerging Alumni of the Year.
SingleSource scores R&D grant to explore digital identity over blockchain
Callaghan Innovation has awarded a $318,000 R&D grant to Auckland-based firm SingleSource, a company that applies risk scoring to digital identity.