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How VR is Shaping Our Buying Decisions

How VR is Shaping Our Buying Decisions

Virtual Reality's effect on the market

Visiting far flung parts of the world often ranks pretty high on most people’s bucket lists.

With increasing developments in technology, particularly virtual reality, most of us can get our culture fix from the comfort of our own home.

While there’s no substitute for travelling the world, virtual reality (VR) allows you to explore parts of the world, attractions and museums that might take your fancy, but not enough to part with your money.

However, it’s not just about virtually experiencing places you’ll likely never visit.

These days, companies are using VR to market their attractions, boosting customer perception and increasing overall visitor numbers.

In 2017, The Wildlife Trust of South and West Wales received £30,000 from Visit Wales to create two VR videos - “Dolphin dive” off the coast of Pembrokeshire and “Flight of the kingfisher” over Teifi Marshes Nature Reserve in Cilgerran.

Gina Gavigan, the charity’s marketing development manager, said they showcased the videos at consumer shows, wildlife attractions and schools, which increased awareness and boosted engagement with younger audiences.

As a result, 85% of people who had watched the videos responded to a survey saying they would visit Wildlife Trust attractions.

More than three quarters of the world’s biggest brands now utilise VR, with brands like BMW, IKEA and Porsche, all incorporating VR and augmented reality experiences into their marketing strategy.

Even unexpected organisations, such as Alzheimer’s Research UK’s A Walk Through Dementia prove the scope of opportunity for mixed reality to inform, influence and enhance our everyday lives.

One area where VR is quickly picking up pace, is the property market.

In 2015, then housing minister, Brandon Lewis, announced the government planned to build 1 million new homes by 2020. While predictions suggest we may fall short of that target, with so many new properties to market, developers are searching for more inventive ways to attract buyers in such a saturated market.

EyeSiteView creates virtual tours for housing developers, enabling them to market their properties before building work has begun.

Potential buyers can look around the new development and virtually step inside different house types.

EyeSiteView Associate, Tony Buck, said: “For most people, buying a house is one of the most expensive decisions of their life. The typical methods of viewing 2d floor plans and generic CGI can be difficult to imagine yourself living there.

“Each house buyer is browsing with different needs, we aim to provide the user with tools to enable them to understand their homes in as much detail as possible.

“Buyers are looking round a virtual home, not a bricks and mortar building. In one aspect, this is good as it means we can craft a virtual house that they really see themselves living in, but equally, it needs to be just as impressive as the feeling of walking round a new home.

“By allowing the buyer the ability to choose their bathrooms, kitchens and even whether they have an extra bedroom or more storage, they feel like a part of that design process, giving them more confidence in their buying decisions.”

Find out more about our property marketing services here.

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