After the recent launch event at the British Museum - “The 101st Object to Shape the History of the World” - the results of the consumer VR survey conducted by the ICT sales tracking company CONTEXT, are now available.
Ukie worked in partnership with CONTEXT in framing the scope and questions of the survey, which cover awareness of VR, attitude towards and intention to purchase for over 2,500 consumers in the UK, France, Germany Spain and Italy during May/June 2016. Other partners on the project include Oculus, AMD, the University of Reading, Retail Week and Dell.
The findings show that while consumers are excited by the potential of VR, many still saw a lack of understanding of the products and the potentially high costs as barriers to purchase. 75% of consumers agreed that they do not understand enough about VR products, and 73% would like to wait before investing in the platform. 35% of those surveyed would be willing to spend between £100 and £200 on VR products at present and 39% of respondents believe that VR products are still too expensive.
Perhaps unsurprisingly, the cheaper VR products such as Google Cardboard show a higher level of penetration into the market, however, when asked which product they would most likely purchase, the UK’s consumers favoured the more advanced products from Sony PlayStation VR (18%) and Oculus Rift (10%).
The results also indicate that traditional physical retail may play an important role in the growth of VR sales, as a third of consumers (33%) would choose a large specialist technology retailer, over three times higher than an online retailer (10%) and almost twice Amazon (18%), when deciding where to buy. This is reinforced by a massive 79% of respondents, who saw the opportunity to demo as an important factor in the decision to purchase, overtaking the cost of the product at 68%.
Adam Simon, Global Managing Director, Retail at CONTEXT suggests “The research shows that Retailers can provide the product demos and the expert advice that consumers are aware they need including aftercare; post-sales support and home installation. The added benefits that their staff and stores can provide in store are a significant opportunity for them over online competition, and one they should grasp with both hands.”
Consumers are also beginning to see the potential wider uses of VR, with 60% of British respondents claiming they’re most excited about viewing sports as if they were really there. This figure rose to 65 percent and 66 percent in France and Germany. Over half of the British public (56%) agreed that VR has serious applications in fields such as medicine, science and education, highlighting an awareness that VR could soon play an important role in many aspects of our lives.
A sample of the more detailed survey results can be downloaded below. If you wish to purchase the full results, a number of pricing options are available, all of which are available at a 25% discount for Ukie members. Contact Sam for details.