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Uh-oh: Just 1% of people willing to pay what Oculus Rift costs

The Oculus Rift, the most famous virtual reality device of the moment, will have a very hard time making a real dent in what is expected to be the $30 billion VR market if the results of a new report are accurate: Just 1% of all online American consumers are willing to fork over $599, the price of a Rift.

The study, by IBB Consulting, offers many details–including some demographics about the VR market (males are twice as interested in virtual reality than females). Here’s the crux of it, though: Of 8,000 U.S. online consumers surveyed, 17% are interested in VR, and of those, 18% are willing to pay more than $250, of which just one-third will spend more than $500 for a VR headset. Do the math, and that means 1% are okay with the cost of a Rift, or a $799 HTC Vive.

The (better) news? A third of those interested are willing to spend $99 or less. Still, that’s just 5.6% of all consumers. Maybe VR’s time isn’t here quite yet.

This story has been corrected to reflect the proper percentage of people willing to pay the cost of an Oculus Rift.

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