Store No. 8 Is Revolutionizing Virtual Commerce
Their LA event last week featured five VR experiences from five VR developers
Store No. 8, Walmart’s tech incubator, held its first Innov8 gala on October 18. The event, which took place in the Hollywood Hills, presented different virtual reality experiences with the hopes of elevating virtual commerce to the next level.
According to Katie Finnegan, the Principal of Store No 8, the Innov8ers “have uncovered radical new technologies,
approaches and applications across the virtual retail experience, that we know will play a major role in driving commerce forward at a time when technology influences all aspects of consumers’ lives.” The five different VR technologies that were revealed were the following:
- The VR collaboration 8i X Bonobos presented viewers with holograms of real models that could be clothed with different virtual shirts.
- Fyusion X ModCloth displayed technology that allows people to make 3D images with a smartphone, allowing users to understand and experience an item without having to see it in person.
- Obsess X Rebecca Minkoff showcased a virtual store, fully customizable to the brand’s style and essence. This gives retailers the freedom to decorate and individualize their virtual spaces.
- Nurulize’s VR allows two or more people to look at online items at the same time, creating an element of interaction not previously seen in VR shopping.
- Specular Theory demonstrated FAB (Families and Babies) which is concerned with examining a family’s needs, such as age related safety issues, and recommending products accordingly.
The gala comes at an interesting time as VR continues to establish its versatility. No longer is it confined to being a medium for playing video games or potentially watching sports, instead, we are seeing how it can offer positive changes in our approach to daily life.
For companies, it’s crucial that they realize the importance of adapting with technological changes to avoid being left in the dust. As Arianna Huffington, the Founder and CEO of Thrive Global, pointed out, “The companies that will win the hearts and minds of consumers are those that shape our daily lives by making everyday experiences, like shopping, easier and less stressful.”
As this is only the first event put on by Store No 8, it will be exciting to see what other new technology will come out of these galas in the future.