Showing posts with label Virtual Fitting Room Market. Show all posts
Showing posts with label Virtual Fitting Room Market. Show all posts

Business impacts of COVID-19 on Virtual Fitting Room Market. Strategies of Major Industry Competitors


The way people shop has changed drastically in the past few years, thanks to technological advancements. While, a few years back, people needed to make trips to shopping complexes if they wanted to buy anything, today, they can open up their laptops and computers and get whatever they need with just clicking on a few buttons.

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Online shopping trend has now become an important part of people’s lives, and thus, the e-commerce industry is growing rapidly. The e-commerce platform was responsible for $2.3 trillion in sales in 2017, and the number is predicted to double up to $4.5 trillion by 2021. Furthermore, it has been estimated that by 2040, 95% of purchases will be made online.

Now, the major point of technology is to make the lives of human beings as easy and as comfortable as possible. While shopping online has become quite normal for most people, some problems related to the technology still persist. For example, say a person buys clothes online but they don’t look good when they are delivered and tried upon.

Now, the person will have to go through the hassle of returning the clothes, wait for the refund, and buy something else. In order to deal with such issues, the technology of virtual fitting rooms has been developed.

With this technology, people can try on things on a virtual platform before they buy it, and with the rapidly expanding e-commerce industry, the virtual fitting room market is also predicted to grow at rapid pace in the years to come. Other than e-commerce platforms, virtual fitting rooms are also used in physical stores, which, in fact, made the larger use of this technology in the past.

In the near future, however, different e-commerce platforms are also projected to make considerable usage of this technology, owing to the increasing consumer preference for these platforms, as they are time efficient.
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Virtual Fitting Room Market: New Developments Helps to Grow Market Opportunities & Forecast until 2024


The global virtual fitting room market is expected to witness rapid growth between 2019 and 2024, on account of the growing consumer inclination toward online shopping, increasing demand for personalized experience, rapid shift toward digitization, changing lifestyle of people, and growing adoption of technologies such as augmented reality (AR) and virtual reality (VR).

Based on application, the virtual fitting room market is classified into apparel, beauty and cosmetics, footwear, and others, wherein others include eyewear, jewelry, and watches. Among these, the apparel category is expected to demonstrate the fastest growth in the market during the forecast period.

Increasing adoption of technologies such as AR and VR by large retailers, such as Amazon Inc., Walmart Inc., and eBay Inc., is a major factor driving the virtual fitting room market. The technology adoption in stores is facilitating improved customer interaction and providing customers with a personalized shopping experience.

However, in the online fashion industry, the return rate of apparel is quite high, majorly due to sizing and fit concerns. Virtual fitting rooms are, thus, the solution to this conundrum, as these allow the customers to virtually try on clothes, with advanced technologies facilitating accurate measurements and ensuring a proper fit.

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To provide a convenient shopping experience to the users, online and offline fashion retailers are increasingly introducing virtual fitting room applications, thus supporting the market growth.

Some of the major players operating in the global virtual fitting room market are Zugara Inc., True Fit Corporation, Fit Analytics GmbH, Autumn Rock Limited, Imaginate Software Labs Private Limited, Metail Limited, Else Corp Srl, Fision AG, FXGear Inc., and MemoMi Labs Inc.
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