Liquid crystal media are characterized by large and tunable dispersive properties and hence allow achievement of large group delays. At the same time, liquid crystals provide large areas and are easily reconfigurable and highly sensitive devices; they are, therefore, well adapted for interferometric applications. Two different ways of achieving slow light in liquid crystals are presented. The first method consists of exploiting photoisomerization-induced transparency in dye-doped chiral liquid crystals, and the second method makes use of two-wave mixing optical resonance in pure nematics. In both mechanisms, two beams are sent to the medium, where they create a grating, either of absorption or of refractive index. Both physical mechanisms are elucidated in the context of slow light, then, as examples of sensing applications, Doppler shift measurements and adaptive holography are presented.