GrapeData helped a watch industry player manoeuvre a strategic move about whether to enter the VR and AR market
According to data, the virtual reality market is expected to grow at almost twenty-eight percent per annum and reach almost $21 billion by 2025. But it is estimated that currently only 1% of businesses are using AR and VR in their customer buying journey.
A player in the Swiss watch industry was however keen to capitalize on this growing industry and be a first mover. Before they could do this, they needed data on what was the biggest pain point for consumers when buying watches and whether they would prefer using AR to visualize how the watches would look on them.
They requested us to carry out this research and we took a hands-on approach. We conducted in person interviews with 300 watch enthusiasts in Italy, France and Switzerland (their main markets). We carried out this process over six days, carefully targeting respondents based on the profile that the client had given us.
We identified customer persona, pain points and attitudes of customers about AR and VR being used in watches. With the results that we collected, our client was able to determine whether moving into AR and VR was a good strategic move for them.