Forget the “Metaverse is over” babble, there’s plenty of life in the virtual shopping experience for global consumer brands. Why? Because these brands know that this is where their next generation of customers hang out. Here are six examples (J&J, Maybelline, Alo Yoga, Corona, Crocs & Dyson) of what’s going on in virtual reality.
Competing For The Attention Of The Digital Generation
In the rapidly expanding realm of global e-commerce, where sales are projected to reach a staggering $6.3 trillion this year, consumer brands are engaged in a fierce battle for market share, consumer engagement and customer loyalty. To build brand value, gain a competitive edge and differentiate themselves in a crowded market, global consumer brands are embracing emerging technologies.
For this week’s member’s column I’m looking at the real use-cases in immersive virtual commerce experiences. In other words, shopping in the metaverse.
Now, for those of you who have just seen the “m” word and are rolling your eyes, bare with me. Because global brands are spending real dollars on building virtual experiences, whatever you chose to call it. The reason is simple, because the likes of you and I (and I’m assuming you’re no longer at school) are not the target the audience. They’re not doing this for the generations who like the tactile experience of shopping. They’re doing this for the next generation of buyers who are totally at ease in a digital existence. They wouldn’t know a conker if you gave them one.
Don’t just take my word for it either. Take Patrice Louvet’s (the CEO of Ralph Lauren.)
“The media headlines have moved on, but the consumer has not,” Patrice Louvet recently told Bloomberg. “We are investing in the metaverse. We want to be where our consumer is. That’s where the younger population is. That’s where they want to engage with brands like us.”
At the core of this retail revolution lies the synergy between AI technology and the…