How The Metaverse Will Attract Younger Shoppers
The metaverse is a digital world created using different technologies such as virtual reality, cryptocurrency, and augmented reality. Although it is a relatively new concept to many people, it is something that businesses should start to learn if they want to stay ahead of their competition. Many brands are already rushing to build real estate in the virtual realm before the market becomes bloated.
The metaverse, which means ‘beyond universe’, consists of persistent, shared, 3D virtual spaces. Theoretically, it will be comprised of multiple virtual worlds, which will allow people to quickly teleport from one experience to another and access everything from social interactions to entertainment, shopping, and work.
From branded shops to virtual clothing, dozens of experiments have been done the past year to figure out how to market to consumers in the next iteration of the Internet. One point that has stuck out through these experiments is that researchers believe the metaverse will open gates to attract younger shoppers.
Companies Embracing the Metaverse
Ralph Lauren is one company that has decided to embrace the metaverse and the younger shoppers it may attract. They now feature a virtual visit where young shoppers can buy digital apparel in Zepeto and Roblox. In just one week of collaboration, they sold 100,000 units. Now, the CEO of Ralph Lauren, Patrice Lovet is even participating and has already made his avatar. Gucci is also next in line to follow the same pattern.
Walmart has also filed trademarks indicating the vision to sell virtual goods, including home décor and personal care in the metaverse. They also plan to offer virtual currency.
With so many businesses taking steps into the metaverse, experts predict it to be the next step in marketing. And a younger demographic who will age into the metaverse will come to know the brands online and become loyal to those they know.
For more information on how we can help take your marketing into the metaverse, contact Fourmangos today!