Virtual dressing rooms are the online equivalent of in-store fitting rooms, which allow customers to try on clothes and check its fit, size, and style virtually. It has superior speed and efficiency than conventional dressing rooms.
It allows shoppers to try different products, such as accessories, watches, shoes, and clothes, based on their preferences. It comprises various components, including miniature cameras, apps, and login credentials, which offer a hassle-free, flexible, engaging, and personalized shopping experience as compared to brick-and-mortar outlets. As a result, e-commerce platforms are relying on VFR solutions nowadays to build brand loyalty and reduce expenses.
COVID-19 scenario analysis:
The pandemic has affected businesses across the world and retail sector is one of the worst-hit. In this situation, product sales have been declined drastically owing to the significant drop in footfalls at the physical store.
Most of the customers prefer online shopping during these times leading to increase in the demand for e-commerce platforms. With the emerging trend of online shopping, virtual dressing rooms are expected to grow in coming years.
However, with the increasing focus of companies and retail stores on cost reduction and low IT spending, the adoption of virtual dressing rooms seems to face a limited implementation in coming years.
On the other side, some people prefer physical stores and are more comfortable with that concept.
To avoid the spread of the virus, governments have regulated guidelines regarding the safety of customers, which led to retailers adopting the concept of virtual dressing rooms.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
The thriving e-commerce sector, on account of the increasing internet penetration and boosting sales of smartphones, in confluence with the growing high-fashion trend, represents one of the key factors bolstering the virtual dressing room market growth. Moreover, apparel merchandisers worldwide are significantly investing in promotional campaigns to increase customer loyalty, gain a competitive advantage, and provide real-time tracking of products. This, in turn, is strengthening the growth of the virtual dressing room market. Apart from this, several brands are following hybrid models wherein bricks-and-mortar sales are combined with online fitting and customization to improve customer experience.
Furthermore, with the ongoing coronavirus disease (COVID-19), there is a considerable rise in safety concerns among individuals. This is influencing the need for VDR solutions for social distancing and preventing the spread of the pandemic. In line with this, technology interface designers are introducing tactile output devices or haptic interfaces that mimic texture and roughness using electrically generated fields. This is anticipated to aid in the development of next-generation interactive VDRs and propel the market further.
However, lack of awareness and high adoption can act as a restraining factor for the virtual dressing room market. Small and medium retailers are still not aware about the concept. Retailers with less knowledge about its deployment may result in lesser adoption of the solution. People really don’t know about it due to insufficient publicity. Apart from this, small and medium retailers are unable to afford it due to its high implementation cost.
Key benefits of the report:
- This study presents the analytical depiction of the industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the virtual dressing room market share.
- The current virtual dressing room market is quantitatively analyzed to highlight the market growth scenario.
- The report provides a detailed virtual dressing room market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the virtual dressing rooms market research report:
- Which are the leading market players active in the virtual dressing room market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the virtual dressing room market in the next few years?
- What are the driving factors, restraints, and opportunities in the virtual dressing room market?
- What are the projections for the future that would help in taking further strategic steps?
Virtual Dressing Room Market Report Highlights
By Industry Vertical
Key Market Players
Zugara Inc., Magic Mirror, ELSE Corp Srl, True Fit Corporation, Visualook, Metail, FXGear Inc., SenseMi DMCC, MemoMi Labs Inc., Fit Analytics, AstraFit