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![“
Karinna Nobbs, founder of The Dematerialised
For Chanel or Burberry or Gucci, brands
that typically have an entry price point, the
first interaction you might have with that
brand might be [to buy] a lipstick for $30.
An NFT might be an alternative for an
entry relationship with that brand [...]
NFTs are the perfume or lipstick of the
future."
Fakurian Design / Unsplash](https://image.slidesharecdn.com/an22t09featuredretailing-in-the-metaverse-220118202510/75/Retailing-in-the-Metaverse-32-2048.jpg)
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Retailing in the Metaverse
This document defines the metaverse and explores ways companies are entering and conducting commerce within virtual worlds. It begins by defining the metaverse as a network of 3D virtual worlds accessed synchronously by many users. Examples are given of companies like Meta/Facebook and Roblox investing in the metaverse. The document then explores how brands are partnering with games like Fortnite and Roblox to reach users. Examples of fashion brands and retailers experimenting with virtual stores, NFTs, and direct-to-avatar commerce are provided. The document concludes that brands should begin experimenting in the metaverse now while paying attention to generational differences and emerging sales opportunities in this new virtual landscape.
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Retailing in the Metaverse
- 1. Cassandra Napoli Senior Strategist, WGSNInsight Into the Metaverse Epic Games
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- 3. Into the Metaverse 3 Roblox 01Defining the Metaverse 02 Entering the Metaverse 03 Meta Commerce
- 4. 01 Defining the Metaverse Unit 2Games Limited
- 5. “ The Metaverseis a massively scaled and interoperable network of real-time rendered 3D virtual worlds which can be experienced synchronously and persistently by an effectively unlimited number of users with an individual sense of presence, and with continuity of data, such as identity, history, entitlements, objects, communications, and payments.” Matthew Ball, venture capitalist
- 6. Facebook: A MetaverseCompany 6 Defining the Metaverse Trend 1 Meta Alex Castro The Verge
- 7. The State ofthe Metaverse 7 Defining the Metaverse $800 billion in 2024 “The global Metaverse revenue opportunity could approach $800 billion in 2024.” -Bloomberg Intelligence Oculus
- 8. 8 Avatar Economy Defining theMetaverse Wolf3d Roblox
- 9. 9 Meta “ Jessica DeFino, journalist It’sfair to wonder and worry about the beauty ideal the metaverse might inspire: Meta Face, or the real-world approximation of the unrealistic facial features popularized by our animated metaverse avatars.”
- 10. 10 The New WanderYears Defining the Metaverse Vans
- 11. 11 Digital Awe Defining theMetaverse @blakekathryn @james_films
- 12. “ But theconcept of Reality Privilege resonates. Not everyone has the chance to live in Manhattan. Not everyone is able to visit the Pyramids, the Taj Mahal, Machu Picchu. As our online lives become richer and more vibrant—and as technology improves—digital experiences will at least come close to capturing (and, in some cases, will likely surpass) those offline experiences.” Rex Woodbury, Digital Native
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- 15. Brave Virtual Xperience Definingthe Metaverse 15 The Metaforce Hyundai Samsung “ We recently have started hearing about brands considering the creation of special metaverse teams, just like how they put together teams to focus on specific social media channels not too long ago.” Christina Wootton, Roblox's VP of partnerships
- 16. 16 Education Defining the Metaverse Roblox TheStanford Daily
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- 18.
- 19. SHINHAN CARD CARD Defining theMetaverse 19 Meta-Societies Twitter KB Kookmin Bank Sandbox
- 20.
- 21. 21 In-game Experiences Entering theMetaverse Fortnite Roblox Animal Crossing
- 22. 22 Roblox Entering the Metaverse WarnerBros. Warner Bros.
- 23. 23 Roblox Entering the Metaverse BritishFashion Council British Fashion Council
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- 25.
- 26. 26 Roblox Entering the Metaverse RalphLauren Ralph Lauren
- 27. 27 Digital Playgrounds Entering theMetaverse SK-II SK-II SK-II
- 28. 28 “ P&G BeautySPHERE was inspiredby our ongoing commitment to find new and surprising ways for people to connect with our brands, products and values. Our hope is that, through these fully immersive, digital experiences, visitors can interact with our brands in surprising, engaging new ways.” Alex Keith, CEO, P&G Beauty
- 29.
- 30. “ Using ARwe were able to simulate a fashion environment, showcasing the designers work with MACHINE-A in an augmented, interactive space. Using traditional campaign spaces allowed for us to democratise fashion and support designers, particularly in the wake of COVID-19.” Cattytay, Co-founder of the Institute of Digital Fashion Institute of Digital Fashion Institute of Digital Fashion
- 31. Augmented Reality 31 Meta Commerce SnapInc. Snapchat
- 32. “ Karinna Nobbs, founderof The Dematerialised For Chanel or Burberry or Gucci, brands that typically have an entry price point, the first interaction you might have with that brand might be [to buy] a lipstick for $30. An NFT might be an alternative for an entry relationship with that brand [...] NFTs are the perfume or lipstick of the future." Fakurian Design / Unsplash
- 33. 33 NFT Boom Meta Commerce Dolce& Gabbana TikTok
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- 35.
- 36. 36 Adidas’ Into theMetaverse Meta Commerce Adidas Adidas Adidas
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- 38. 38 Fast Fashion Meta Commerce boohooMAN Forever21 Zara x Ader Error
- 39. 39 Direct-to-Avatar Commerce (D2A) MetaCommerce Facemoji
- 40. The more embodiedyou feel in your avatar, the more likely you are to invest in its appearance and behavior traits. For example, a $10 Louis Vuitton skin might be expensive in the virtual world, but, if the digital purchase allows you to live vicariously in your favorite fashion designer’s clothes, $10 becomes an affordable luxury.” “ Samantha G. Wolfe, founder of PitchFWD Gucci
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- 42. 42 Direct-to-Avatar Commerce Meta Commerce RalphLauren Crocs Levi’s American Eagle
- 43. 43 Metaverse Fashion Week MetaCommerce The Fabricant
- 44. Phygital Department Stores 44 MetaCommerce Selfridges Selfridges
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- 46. Meta Malls 46 Meta Commerce RepublicRealm Republic Realm
- 47. 47 The Meta Marketplace MetaCommerce Around Around
- 48. Key Takeaways 48 Pay attentionto the generational differences Enable AR marketing and commerce experiences Closely monitor new sales opportunities 01 02 03 04 Begin to experiment in the metaverse now
- 49. This report isprovided for internal purposes only. Neither the report nor its content may be downloaded, printed or distributed outside of your organsation except as expressly authorised by WGSN. All rights reserved. Each image contained within remains property of the originator. Cassandra Napoli Senior Strategist