Chinese rush to use VR and AR for their purchases

Chinese consumers are leading the world in using rapidly expanding virtual reality and augmented reality tech functions on their smartphones and other devices when buying products, according to a report issued by Worldpay, a London-headquartered payments company with global reach.

The report said 95 percent of Chinese respondents said they had used VR or AR technology in the past three months, which was more than three times the rate of VR use internationally.

It found that nearly all Chinese consumers were willing to make a purchase in a virtual environment, while 36 percent said security was a primary concern. Some 84 percent of those surveyed believed that VR or AR technology was the key future trend for shopping and only 1 percent of consumers would never make a purchase in a virtual environment.