Marketers Bet That Nascent Virtual Reality Technology Could Become An Effective Sales Tool

A market research firm predicts that sales of virtual reality and augmented reality hardware, including smart glasses and head-mounted displays, will reach $1.06 billion by 2018. Marketers like Coca-Cola, HBO and Nissan are betting on the eventual selling power of the technology, if hardware prices drop to levels that consumers can afford. Right now, these early experimenters have to provide the gadgetry themselves, so testing is done at big events like the Detroit Auto Show. Despite significant current hurdles – i.e., high cost and cumbersome equipment – the early players are betting that eventually the technology will deliver the “visceral customer experiences” that could drive product sales.