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iQiyi launches first virtual reality store
iQiyi has launched its first offline virtual reality flagship store in Shanghai and will open others across the country as the Nasdaq-listed firm expands into the VR entertainment sector.
Global revenue from the offline VR entertainment market is expected to hit US$11.8 billion this year, triple the 2019 level, according to researcher Greenlight Insights.
iQiyi says it will open two new stores a month at first, with stores in Zhejiang and Guangdong provinces already in pipeline. The number will rise to 10 a month given the conditions of the COVID-19 pandemic.