The history of advertising can be traced back to ancient civilizations, where advertising was used in multiple forms. As the society developed, so has the form of advertising; from earlier using Papyrus and street callers, advertising has come a long way, and now advertising generally seems to imply promotions of products and services in newspapers, magazines, over radio or television or online. In the recent past, digital mode of advertising has completely overshadowed the printed form of advertising because of its ability to reach a wide range of audience across different geographies in a cost-effective manner. Although many organizations have shifted towards the “dominant” digital mode of advertising and amassed an incredible amount of revenues, customers still skip through ads because of the lack of immersive and interactive content associated with it. Thus, we believe that VR/AR, which is touted as an enhancement to the digital form would completely revolutionize the advertising space and provide an unprecedented experience for the customers, which is lacking in the current modes of advertising. In this research paper, we are going to analyze the reasons for the downfall of the print media advertising and stagnation of digital mode of advertising. Later, we would be analyzing if Virtual Reality has the potential to reshape the way advertising is perceived in the minds of customers.