Supporting Small Businesses and Local Economies Through Virtual Reality Shopping and Artificial Intelligence: A Position Paper

Abstract

The rise of e-commerce and online sales has had a detrimental effect on small businesses that lacked an online presence in recent years, with negative consequences for local services and economies. Despite attempts to digitize businesses, large corporations continue to hold a privileged position that allows them to capture the majority of sales. Small businesses may regain a competitive edge against large platforms by anticipating and adapting to the next phases of commercial evolution, which are likely to be heavily reliant on Virtual Reality shopping and Artificial Intelligence. In this article, we propose a platform that combines these two technologies and enables local businesses to join forces and overcome physical barriers, thereby providing a virtual world of unrestricted retail spaces. The system also proposes retail collection points and develops attractive leisure plans around these points through the outcomes of a recommender system, thereby promoting city activity and bolstering local economies.