Want to experience business class or live like a king in a luxury apartment – before handing over the cash? This could soon become possible with the growth of virtual reality (VR) advertising.
This innovation to the advertising industry has become a growing part of the VR market. Cameron Peebles, chief marketing officer of VR advertising platform VirtualSKY, told CNBC via e-mail his organisation had "received heavy interest from virtually every major international agency."
Analysts say that VR ads are at the moment mainly popular within the tech industry, but have also gained notable interest from car brands, with Audi, Jaguar and Volvo among those releasing VR ads. Demonstrating the breadth of the technology's appeal, other brands with VR campaigns include Coca-Cola, which allowed consumers to virtually ride on Santa's sleigh; Nike, which captured Brazilian soccer player Neymar scoring for his national team; and even cheese brand Boursin, which journeyed viewers through a packed fridge.
Explaining the place of VR in advertising, Hope Frank, CMO of advertising automation platform Kiosked, told CNBC via e-mail that "selling an experience has become a crucial part [its] of success." She adds that allowing the consumer to "explore the experience in an exciting new way prior to any purchase decision is highly valued by the luxury travel segment, transportation, hospitality and many more."