Virtual Reality

Social media companies desperately want to create a new walled garden that gives them a set of digital real estate that they can rent out to the public (McEwan, 2023) but so far the public has not been very receptive to the types of devices they need to wear and immersing themselves into these environments when their televisions, phone screens, and headphones already provide most of the key experience that they need on something they already carry without any additional costs.

Things have not substantially shifted in the augmented reality marketplace since 2017 when IKEA launched it's IKEA Place (IKEA, 2017). Smart manufacturers have realized that they can help consumers visualize their products in spaces with simple phone applications and have focused on that for the most part. The brands you mentioned like Nike and Gucci have more to gain by being trendy and exclusive so they are working with the VR vendors to create experiences that will be seen by hundreds or thousands of visitors. Meanwhile a company like IKEA is looking to provide a marginally good experience to hundreds of thousands to promote sales volume.

References

IKEA. (2017, September 12). Launch of new IKEA Place app. IKEA Global. Retrieved February 12, 2025, from https://www.ikea.com/global/en/newsroom/innovation/ikea-launches-ikea-place-a-new-app-that-allows-people-to-virtually-place-furniture-in-their-home-170912/

McEwan, B. (2023, February 26). Billions have been sunk into virtual reality. To make it worth it, the industry needs to grow beyond its walled gardens. The Conversation. https://theconversation.com/billions-have-been-sunk-into-virtual-reality-to-make-it-worth-it-the-industry-needs-to-grow-beyond-its-walled-gardens-200134