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- Title
Metaverse: Die nächste Evolutionsstufe im Retail.
- Authors
Weigel, Christian
- Abstract
The article "Metaverse: The Next Evolutionary Stage in Retail" deals with the potential of the metaverse in the retail industry. It is pointed out that already 20.6 million Germans use mixed reality and 48% of consumers would buy from retailers who use mixed reality. The metaverse allows brands to open up new sales channels for digital products such as clothing, accessories, and furniture. Hardware plays a crucial role, and Apple is expected to revolutionize the market with the Apple Vision Pro. It is expected that in the coming years, the metaverse will be integrated as a new touchpoint into the channel ecosystem of brands, allowing products to be tried out from anywhere in the world around the clock. The most popular use cases for augmented reality (AR) are augmented reality games, photo and video filters on social media, educational and learning projects, home and house planning, as well as travel information. In retail, brands like Gucci, Ralph Lauren, Adidas, and Nike use the metaverse to create virtual products and experiences. Nike has acquired the startup RTFKT to develop unique virtual products that can be purchased using non-fungible tokens (NFTs). The metaverse also offers potential for the furniture trade, as many people, especially between the ages of 25 and 44, prefer to shop online and engage with the metaverse. E-commerce revenue has increased significantly, and companies in the furniture retail sector already generate a portion of their sales online. The use of VR and AR applications has gained importance in recent years. Thanks to new rendering technologies such as Epic Games' Unreal 5 Engine or Unity, materials and haptics can be realistically represented. This allows furniture from online shops to be projected directly into one's own living space using an AR function on a smartphone or tablet. Major furniture retailers like Ikea and Amazon are integrating increasingly powerful AR applications to encourage consumers to make online purchases. Interest in the metaverse and its possibilities is high among young adults in Europe. The metaverse also offers new sales channels for digital products such as clothing, accessories, furniture, and beauty products. The market value of the metaverse could reach up to $5 trillion by 2030. Brands and retailers should not miss out on the development of VR and MR experiences but should create user-centered and authentic experiences to promote customer loyalty and brand perception. The article discusses the possibilities of the metaverse in retail, particularly in the fashion, beauty, and interior design sectors. It is noted that virtual clothing and makeup fittings already exist and could become even more realistic in the future. Furthermore, the idea of purely digital clothing and furnishings for video calls and meetings in the metaverse is presented. The article also mentions the potential use of augmented reality contact lenses that could display personalized offers in real-time. The article emphasizes the opportunities for new distribution channels and business models in the digital space and concludes with anticipation for the future in the metaverse.
- Subjects
NON-fungible tokens; SHARED virtual environments; DIGITAL technology; MIXED reality; YOUNG adults; NIKE Inc.; CUSTOMER loyalty; ONLINE shopping
- Publication
Marketing Review St. Gallen, 2024, Issue 2, p14
- ISSN
1865-6544
- Publication type
Article