There are approximately 8 billion people in the world. Yes it’s crazy. And of those, more than a quarter of them actively shop online. e-commerce sales about to reach $6.5 trillion within a year.
What was once the future has finally become the present. If you’re reading this, you probably regularly buy everything from groceries to clothing. But we are only human.
We are always looking for the next big thing. Both as a shopper and as an investor. So what’s next for retail?
I read the title, so I know the answer.
metaverse. A virtual immersive world. It provides a smartphone-like experience. However, it is much more advanced.
It’s 3D, so it’s more attractive and realistic. You can actually see and touch various things in this world.
Some feel that the concept is still too futuristic and new. At this point, Only 16 out of 100 Fully understand what the metaverse is.
But brands are now experimenting with it.
What the Metaverse has done for the retail industry so far
Some of the world’s biggest brands have been using it since the early days. metaverse technology Create more awareness, more engagement, and learn along the way. D&G, Gucci and Nike are just a few of the brands that have used NFTs, virtual concerts and VR to enhance their online presence.
And for good reason.
Augmented reality headsets offer consumers unique one-on-one interactions with brands and products.around it 73% of consumers If we can establish a true connection with a brand, we will be willing to spend more money on that brand.
Drawbacks of online shopping
Let’s take a step back and ask ourselves if the Metaverse has any practical use, or if it’s just a gimmick. We have seen many new technologies come and go. They all looked promising. But they couldn’t deliver.
Is there something different about the metaverse?
According to research, About 60% of consumers In fact, I like shopping for clothes, shoes, and other accessories online. The reason is simple. Really really convenient. You can do it in the comfort of your own home.
But there are some things you can’t do online. You can’t try on or see the fabric up close. Needless to say, I have no idea what it will look like until I receive it. It leads to the next point.
How can the metaverse address this issue?
The metaverse helps solve some of the problems associated with online shopping.
For example, you can virtually try on clothes before buying them. You know what they look like on you and what suits them. Why not inspect the fabric? Thanks to HD graphics and haptic feedback, you can do that too.
The brand has employees who are fully aware of this. In fact they are already working on it.
Brands working on the metaverse include:
The conclusion is
The Metaverse is the future of retail. It has the potential to solve some of the biggest problems facing online shoppers.
It’s still early days, but the brand is already experimenting. And this is just the beginning. Sooner or later, we will all be shopping in the Metaverse.
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