Facebook creates exec team to work on Mark Zuckerberg’s vision for a digital universe

“‘Today Portal and Oculus can teleport you into a room with another person, regardless of physical distance, or to new virtual worlds and experiences,’ Bosworth wrote. ‘But to achieve our full vision of the Metaverse, we also need to build the connective tissue between these spaces — so you can remove the limitations of physics and move between them with the same ease as moving from one room in your home to the next.’”

https://www.google.com/amp/s/www.cnbc.com/amp/2021/07/26/facebook-creates-exec-team-to-work-on-metaverse.html

Virtual Try-On Is More Than A Pandemic Trend – And These Brands Are Reaping The Rewards

  • “Partnering with fashion giants like Farfetch and Prada to start, Snap’s new machine learning technology will utilize ‘3D Body Mesh’ to replicate real-life fits as Snapchatters try virtual clothes on via the camera, implementing voice-enabled controls to let the app know they’re looking to browse and try on in AR.
  • ‘70% of consumers feel that finding clothes online that fit is really difficult, and returns are a $550 billion problem for businesses,’
  • ‘Personalization is so important — how do we make this personal to you, to your face, to your body, to your room—and that’s where try-on and features like fit recommendations with Fit Analytics really come into play,’ Arguelles adds.”

https://www.google.com/amp/s/www.forbes.com/sites/lelalondon/2021/05/20/virtual-try-on-is-more-than-a-pandemic-trendand-these-brands-are-reaping-the-rewards/amp/

PORTL Hologram raises $3M to put a hologram machine in every home

  • “‘When I started this I thought it was going to be a novelty company,’ he said. ‘When the pandemic hit he knew we needed to do much more than that.’
  • The projector can transmit images any time of the day or night, and using PORTL’s capture studio-in-a-box means that anyone with $60,000 to spend and a white background can beam themselves into any portal anywhere in the world.”

https://www.google.com/amp/s/techcrunch.com/2020/10/29/portl-hologram-raises-3m-to-put-a-hologram-machine-in-every-home/amp/

Brands look to VR e-commerce to replace the in-store experience

  • “VR e-commerce technology is one of the many digital opportunities, like AI beauty tools and virtual consultations, that brands are seeking to offset losses from physical store closures.
  • VR e-commerce startup Obsess, for example, has seen a 300% increase in inbound inquiries over the last four weeks
  • Dior’s VR store offers shoppers of its French website a 360-degree, 3D e-commerce experience.
  • According to Singh, the company’s VR stores have a 70% higher conversion rate than traditional grid e-commerce.”

https://www.google.com/amp/s/www.glossy.co/beauty/brands-look-to-vr-e-commerce-to-replace-the-in-store-experience/amp

Virtual Fitting Room Markets, 2024 by Component

Image credit: Modular4KC.com

  • “The virtual fitting market size to grow from USD 2.9 billion in 2019 to USD 7.6 billion by 2024, at a CAGR of 20.9% during 2019-2024
  • The major growth factor for the market is the increase in the adoption of advanced technologies such as AR and VR.
  • Another factor that is contributing to the market is the growing eCommerce trend and shift of consumer toward online shopping.
  • According to the Census Bureau of the Department of Commerce, the retail eCommerce sales for the fourth quarter of 2018 was USD 132.8 billion.”

https://www.globenewswire.com/news-release/2019/04/22/1807204/0/en/Virtual-Fitting-Room-Markets-2024-by-Component-Hardware-Software-and-Services-End-User-Physical-Store-Virtual-Store-Use-Cases-Apparel-Eye-Wear-Jewelry-Watches-Beauty-Cosmetics.html