Metaverse + e-commerce, the magical combination of the future

The following articles are from Zongteng Group , author Beverly

Facebook recently announced that it has changed its name to 'Meta', which has once again brought the concept of 'Metaverse' to the forefront for heated discussion.

'Metaverse' is currently still a relatively niche concept, and many people are not familiar with it.Large technology companies, including Microsoft and Apple, are trying to make some content in the 'Metaverse'.In the past few years, searches for 'Metaverse' have continued to rise.

'Yuanverse' search volume in the past five years, image source: Google

There are many discussions about the 'metaverse', and the most representative definition is——The 'Metaverse' is a virtual space that is parallel to and independent of the real world. It is an online virtual world that reflects the real world, and it is an increasingly real digital virtual world.

Just like scenes seen in science fiction movies and books in the past, the 'Metaverse' has the potential to fundamentally change the way we live our daily lives.Assuming that we will eventually come into contact with the real 'metaverse', how will it affect the entire retail industry?

01

Not satisfied with the status quo

Brand owners are running to make games

The huge virtual world built on the game platform can be regarded as another prototype of the 'metaverse'.In the game world, clothes and shoes are not only game props, but also represent the player's personality and preferences.More and more brands are choosing to cooperate with game platforms to create virtual spaces and provide potential customers with an immersive and real experience.

Roblox: Diverse ways to play the virtual economy

There are many similarities between the world of the 'Metaverse' and Roblox.Roblox is a sandbox gaming platform where users can create three-dimensional avatars, build houses, and buy gear for their characters using 'Robux', the game's virtual currency purchased with real money.

Virtual Gucci Dionysus bag, photo source: Roblox

Many retailers are exploring more possibilities in Roblox and other similar virtual gaming worlds.When Gucci celebrated its 100th anniversary, it moved the offline Gucci Garden Archetypes exhibition to Roblox and launched a two-week virtual exhibition. The content of the five themed exhibition halls corresponded to the real exhibition.Players can also purchase a variety of Gucci brand gaming apparel and accessories.A virtual Gucci Dionysus bag was bought by a user for 350,000 Robux, or approximately US$4,115. In the real world, the price of this bag is only US$3,400.Players’ spending power cannot be underestimated.

LOL surprise doll, photo source: Kuklopedia.ru

LOL Surprise, a trendy toy brand owned by American toy giant MGA Entertainment, launched the game LOL Official Party on Roblox, and later reached a cooperation with Walmart.The LOL surprise dolls on Walmart shelves will have codes to unlock exclusive Roblox content printed on the packaging.Adweek reported,When parents see their children playing LoL games on Roblox, they are more likely to buy LoL surprise dolls in stores.There are many more such cooperations, all of which bring win-win results.

In Roblox, a small economic world is taking shape. Players purchase virtual goods produced by content creators, allowing virtual creation to be monetized, and the proceeds will be distributed between Roblox and content creators.It is reported that the highest annual income of top creators has exceeded $1 million - in the form of real-world cash.

Fortnite: digital entertainment continues to intensify

The gaming platform Fortnite also has its own 'metaverse' vision. Fortnite hopes to use the popularity of the game to expand its product range and become a digital entertainment venue that blurs the boundaries between the real world and virtual experiences.

American rapper and hip-hop artist Travis Scott's first concert in Fortnite attracted 12.3 million people to watch it simultaneously, Forbes reports that the singer has made at least $20 million in Fortnite.

Ariana Grande’s virtual concert poster, image source: Fortnite

This year,American pop singer and film and television actress Ariana Grande held a series of five concerts in Fortnite.Players can purchase virtual goods from the tour, including Ariana Grande in-game skins and emotes that can be used in-game.Fortnite has also partnered with French luxury brand Balenciaga to launch a series of brand-related in-game accessories.

The mixture of the physical world and the virtual world has greatly enriched the daily experience of the audience. Take sports events as an example. In the past year, VR sports events have gained a lot of viewers who watch the games at home without having to go to the venue to buy tickets. , an impactful visual experience that breaks the barriers of location and time zone.Currently, most e-commerce companies exist in the virtual world with 3D and VR-accessible stores, and future operating methods and gameplay will become more diverse.

02

Dreams come true

The 'metaverse' exploration path of traditional retail industry

The proposal of the concept of 'metaverse' provides a new path for human society to achieve the ultimate digital transformation. A more prosperous digital economy will no longer be just an imagination.In the new interactive environment, e-commerce will also undergo disruptive changes, and the new interactive shopping experience will be smoother.

IKEA smart home solutions, photo source: IKEA Place

Although this day has arrived very early, many companies have already taken steps to implement new technologies.ikeaSuccessfully uses augmented reality technology to allow customers to design spaces using its Studio app.Gucci Began selling virtual clothing, launching Gucci Virtual 25 sneakers designed by creative director Alessandro Michele, priced at $12.99 per pair.Beauty giantL'OrealCreated a complete virtual cosmetics series.Want to know if new shoes suit your style?Wanna KicksVirtual try-ons are available.Warby Parker You can experience the effects of virtual try-on of different styles of glasses.

There are currently many start-up companies emerging in this field.Scuti is a startup focused on 'bringing the world's first retail marketplace to life through games and allowing brands to sell and ship directly to gamers.'Obsess It defines itself as a startup creating CGI (Computer Generated Imaging) environments and experiences for major fashion and beauty brands.

Canada Goose’s down jackets are world-renowned, photo source: Gsconto

Imagine that in the future, retail in the 'Metaverse' will surpass the best digital experiences today, and you can wear Canada Goose (Canada Goose) down jacket, immerse yourself in the Arctic adventure with brand partner Lance Mackey, four-time Iditarod and Yukon Quest dog sledding race champion, and get first-hand background information on the technical quality and performance of the clothing, order Once the garment is made, the brand will deliver it to your real-world home.You can also buy a new car in the 'Yuanverse' and experience an adrenaline-filled test drive on the track, or you can get advice from a beauty consultant in your living room at home, and enjoy it without leaving home. All the experiences and services you need.

Companies that have glimpsed the potential are increasing their capabilities in augmented and mixed reality, not only developing related devices but also creating assets for on-demand consumption.Although the concept of the 'metaverse' is still in the exploratory stage, the global augmented and mixed reality industry is growing at a compound annual growth rate of 54% and will reach $372 billion by 2026.

When the mobile phone first appeared, it could only be used for 30 minutes and took 10 hours to charge. Image source: Punditcafe

Many technologies have relatively single functions and applications in their initial stages.When the first mobile phone appeared in 1973, it weighed more than 1.1kg. Today's iPhone weighs about 200g and has 100,000 times the computing power of the Apollo 11 spacecraft. It is unimaginable to live without mobile phones.

Today we are surrounded by a series of technologies - virtual reality technology, augmented reality technology, cryptocurrency, blockchain, NFT... Although they seem like scattered tools, one day we will eventually arrive at a There is a place called the 'Metaverse', where the way we work, live, entertain, and shop will undergo earth-shaking changes.

Discussions about the 'Metaverse' are still ongoing, and the future has yet to be opened.