Virtual Experiences, Real Consequences

Abstract

According to Business Wire, the e-commerce market in India is expected to reach US$107.3 billion in 2023 and attract more players in online retailing. E-commerce is essentially backed by technology, and it can be assumed that e-commerce users are tech savvy, seek solutions in technology. VR is one of the important components of artificial intelligence transforming online retail experience to a large extent. The chapter explores the transformative effects of VR on consumer behavior. The chapter begins with the introduction and rise of VR in mitigating the limitations of online shopping and explains how VR is substituting physically examining of products, and how it empowers consumers to make more informed purchasing decisions. Later, the role of AI in virtual e-commerce is discussed followed by shopping convenience for e-commerce users and the future of VR in e-commerce. The findings of this chapter reveal that VR significantly impacts consumer behavior by fostering a sense of presence, interactivity, and immersion. At last, a conclusion is presented.