Virtual Dressing Room Industry, Enormous Growth with Recent Trends & Demand by Top Vendors, Industry Size, Future Business Scope Analysis Market, Applications Analysis by Forecast till 2027
Market
Overview
The Global Virtual Dressing Room Market is expected
to cross USD 6.81 Billion by 2025 at a CAGR of 15.21%.
Virtual dressing rooms
are able to superimpose clothes on users and induce a purchase intent in
customers. The technology has made use of augmented reality to help customers
in their shopping experience and save time on decisions. The global Virtual
Dressing Room Industry report by Market Research Future (MRFR) has been
conceptualized for clothing stores and malls looking to increase their sales
over the forecast period (2020-2027). The COVID-19 pandemic has been included
to predict growth and revenue trajectories.
Market
Scope
This is attributed to
preference of shopping online and new customer experience journeys for
retaining customers. Large number of online apparel stores and increased
purchasing power of customers can influence the market growth. Benefit over
traditional dressing rooms and use of augmented reality to purchase clothes to
attract new generation of customers can propel the market size.
Innovations such as
mobile body measuring, AR, and try-on technology can disrupt the market
positively. This is exemplified by rapid purchases of technological
breakthroughs by large companies to expand their footprint in cosmetics and
apparel. The technology can store customer preferences and customer
measurements to display clothing and accessories of their liking.
But lack of awareness of
the product in developing countries can hamper market growth.
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COVID-19
Analysis
The COVID-19 outbreak has
prevented the opening of trial rooms for trying new dresses barring customers
from shopping. This is evident with many retail stores and outlets facing huge
returns on purchased products. Efforts to fix the fitting room dilemma has led
to integration of virtual dressing rooms on their mobile applications. It has
increased customer traffic and encouraged online shopping from the safety of
their homes.
Segmentation
Solutions to Gain
Precedence in Global Market
Virtual dressing room
solutions are likely to gain the largest share of the market owing to demand
for tailored solutions catering to varying demographics. Large investments by
fashion retail chains can bode well for the segment.
E-commerce to be
Fast Growing Segment for Global Market
E-commerce is expected to
gain speed owing to the convenience provided to customers through mobile
applications and use of rapid delivery to meet customer expectations. Prominent
and unknown brands are trying the online route to gain customers and stocking
units in all sizes. Virtual try-ons can facilitate the demand from the segment.
Regional
Analysis
North America to be
Lucrative for Global Virtual Dressing Room Market
North America is deemed
to be revenue-worthy for the virtual dressing room market owing to presence of
recognizable fashion stores and influence of social media to create peer
pressure for looking good. Effective use of data to attain repeat customers and
drive loyalty membership programs can bode well for the market.
Competitive
Analysis
Fitle, Elpro
Technologies, ELSE Corp srl, Fitnect Interactive, 3D-A-PORTER LTD., 3DLOOK
Inc., Coitor IT Tech, REACTIVE REALITY GMBH, SIZEBAY, Dressformer, Fit
Analytics, SenseMi, triMirror, Zugara, Inc., and True Fit Corporation are
reputed players in the global market. Mergers, acquisitions, and continuous
development of technology are major growth strategies of players.
Industry
News
Walmart has acquired
Zeekit, a startup in Israel, in an attempt to attract customers towards its
site and virtually try on clothes to drive purchases.
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Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
Continued…
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