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The global virtual fitting room (VFR) market size is projected to reach USD 10.00 billion by 2027 on account of increasing popularity of online apparel shopping, states Fortune Business Insights™ in its report,titled “Virtual Fitting Room Market Size, Share and COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Services (Integration, Support and Maintenance, and Consulting), By Application (Apparel, Eyewear, Jewelry and Watches, and Others), By End User (Physical Stores and Virtual Store) and Regional Forecast, 2020-2027”. The report further states that the global market value stood at USD 2.44 billion in 2019 and is expected to register a CAGR of 20.1% from 2020 to 2027.
The COVID-19 pandemic is expected to prove beneficial for the virtual fitting room market growth as lockdowns and social distancing have forced shoppers to stay away from physical stores. As a result, customers are increasingly using e-commerce platforms to buy clothes and other fashion items, which are creating lucrative opportunities for the VFR market.
Zalando Inaugurates Virtual Store in Madrid
In September 2019, Zalando, the German e-commerce company, announced the opening of virtual pop-up store in Madrid, Spain. Featuring no physical clothes, customers will be able to explore the brand’s entire collection in the form of virtual projections. To personalize the shopping experience, the retailer will scan shoppers as they enter the store and collect data on their body dimensions. Based on this data, Zalando will be able to project any garment from its catalogue onto the customers’ body, responding according to their movement. The company aims at elevating customer engagement through its virtual fitting room solution and if successful, the retailer plans on expanding its offering across the continent.
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Rising Acceptance of Smart Dressing Rooms to Favor Market Growth
Smart dressing rooms customize and personalize the purchase process for shoppers through interactive mirrors. Using RFID tags, these mirrors provide customers all the relevant information of the item they wish to buy. Several retail and fashion brands are integrating this technology at their stores owing to its efficiency. For instance, Neiman Marcus has deployed its smart dresser called “Memory Mirror” at its outlet in San Francisco, where customers can try on clothes once, record videos and take photos from various angles, and choose the item that best fits their body. Similarly, at its store in New York, Ralph Lauren has installed an interactive mirror, which recommends accessories and clothes to customers based on what they are trying on. Smart mirrors in dressing rooms are, therefore, advancing VFR technology in the fashion industry.
Integration of AR with Online Retail by Key Players to Fuel Innovation
Key players in this market are increasing their innovation capacities by bringing together the capabilities of Augmented Reality (AR) and online retail. While AR is being leveraged to enhance purchase experience for customers, online retailing is allowing companies to amplify their reach and broaden their business horizons. Most companies in this market are focused on widening their portfolios by utilizing the powers of advanced technologies. In addition to this, numerous AR and VR start-ups are developing solutions for the retail industry, which is further supporting the growth of this market.
List of Key Players Profiled in the Virtual Fitting Room Market Report:
Further Report Findings:
Table of Segmentation:
Value (USD billion)