Abstract
Online product presentation is essential to digital commerce. Virtual reality (VR) allows consumers to learn rich product features through a simulated 3D virtual environment. Compared with pictures and videos, VR can satisfy consumers’ personalized information needs of product characteristics. However, VR’s ease-of-use is a potential concern that may hurt users’ satisfaction. To understand the impact of VR on sales, we examine the role of VR Tour (an online house tour function) in the real estate market. We find that, on average, VR Tour could accelerate the selling procedure. “VR badge” could help consumers rapidly find out promising properties during searching. Rich details provided by VR Tour could mitigate consumers’ concern of quality uncertainty during evaluation and improve their intention of offline house visits. Also, VR Tour may present a short-term decelerating effect if users have little prior using experience. Besides, we find VR Tour is a good substitute over pictures.
| Original language | English |
|---|---|
| Publication status | Published - Nov 2020 |
| Event | INFORMS Conference on Information Systems and Technology (CIST 2020) - Virtual Duration: 7 Nov 2020 → 8 Nov 2020 https://www.cistconf.org/home https://mlin.scheller.gatech.edu/Outside/CIST2020/CIST2020Program.htm |
Conference
| Conference | INFORMS Conference on Information Systems and Technology (CIST 2020) |
|---|---|
| Period | 7/11/20 → 8/11/20 |
| Internet address |
Bibliographical note
Information for this record is supplemented by the author(s) concerned.Research Keywords
- Virtual Reality
- Product Uncertainty
- Survival Analysis
- Real Estate Platform
- Consumer Decision Making Process
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