VIRTUAL CLOSET TO CREATE REAL PROFIT

Written on the 19 November 2012

VIRTUAL CLOSET TO CREATE REAL PROFIT

A REALITY software maker hopes to cash-in on its new virtual wardrobe and image recognition program.

Vitail is convinced online apparel sales will boom when customers can virtually try on garments sold on the internet without leaving home.

Co-director Miriam Koenig and husband Matthew McCourt (both pictured) have invested $60,000 in their virtual reality software website, which features the Virtual Reality Bonn (VRB) program.

VRB uses image recognition and tracking software similar to an XBox Kinect console, giving customers the ability to use home or office environments as virtual change-rooms.

Once a retailer has licensed the application, which ‘bolts-on’ to existing e-commerce infrastructure, online shoppers can try clothes on in the comfort of their own home.

The program can also capture photographs that can be uploaded to social websites.

McCourt reveals VRB responds to a broader shift away from bricks and mortar to “clicks and mortar”.

He points out that a recent Commonwealth Bank of Australia study found online sales had jumped 125 per cent in the past year.

“In the next five years, online fashion will represent a $10 billion industry with 30 per cent of fashion sold in online stores,” he says.

“If a business has no online presence, it will miss the boat. Big retailers like Myer have realised this and are trying to catch up.”

He hopes VRB will find fanfare among Generation X customers (those born between 1960 and 1980).

“We have observed the rising relevance of Generation X, which will next year represent 2.9 million shoppers,” he says.

“They are very influenced by friends and are technologically savvy. Our feedback has so far been fantastic.”

McCourt plans to incorporate threedimensional (3D) technology in VRB once 3D web-cameras become available.

The upgrade would allow shoppers to see full 3D-imagery which would project them spinning on a pedestal in the chosen outfit.

“We are also looking to develop applications for smartphones and iPads. About 90 per cent of people shop on their desktop computer instead of smartphones, but it could still work on iPads as VRB works while standing six metres away from the webcamera,” he says.

ViTAiL is targeting an FY13 revenue of $100,000.


Latest News

SUPREME COURT ORDERS OCTAVIAR GROUP TO WIND UP

THE Queensland Supreme Court has ordered the Octaviar Group of companies (formerly known as MFS Group) to be wound...

CEOS BRAVE THE COLD TO RAISE $1.4 MILLION FOR THE HOMELESS

MORE than 400 executives confronted the cold last night in the annual Vinnies CEO sleepout, which took place benea...

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT "DESPERATION"

South Australia's new bank levy exposes the desperation of a government that is unable to get its own budget and ...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter