The creation of the internet changed the way that commerce worked forever. Some companies rode the wave to make millions, such as Amazon, others failed to adapt to the changing times and feel by the wayside. Several companies in Korea has recently agreed to participate in the creation of a virtual reality (VR) shopping mall in an attempt to be at the forefront of the rise of VR in commerce.
The VR Shopping Mall will open to consumers for the first time during the Korea Sales Festa at the end of September, 2017. Companies that have agreed to participate in the VR Shopping Mall include well-known Korean names such as Hyundai Department Store, E-Mart, LG Electronics and Lotte Department Store.
The South Korean Ministry of Commerce, Industry and Energy announced that the ministry held a business agreement ceremony for the creation of the virtual shopping mall on the 24th Jul, 2017. The companies involved in the project have agrees to offer discounts to customers of the VR shopping mall. It isn’t just big businesses that are involved with the VR shopping mall, however. Traditional markets such as the Dongdaemun and Jagalchi Markets are also getting involves, allowing shoppers to experience a more diverse product range.
The creators of the VR Shopping Mall are claiming that there has never before been such a project involving such a diverse range of industry participations. Korea’s businesses are hoping that this milestone will pave the way for further developments for South Korean industry as a whole.
The VR Shopping Mall will officially open during Korea Sail Fest, which lasts from 28th September to 31st October, 2017.
VRFocus will continue to report on new regarding VR Shopping Mall and other industry VR projects.