The metaverse is an exciting prospect for consumers. But it’s arguably an even more exciting prospect for big business.
It will create an entire new digital economy based around people’s interactions in and with this new digital world.
So how will it affect your e-commerce site?
Welcome to the metaverse, a hybrid virtual-physical extension of our connected world. The metaverse uses augmented and mixed reality to create a 3D version of the internet.
Imagine you are having coffee with a friend in the park. She mentions a pair of sneakers she likes and suggests you might like them too. In an instant, a selection of sneakers flashes up into your peripheral vision. As the digital images float by, she details the style, allowing your AI assistant to fine-tune your selection. You see the sneakers she recommended but you don’t like some of the detailing. Your AI assistant copies them and open up your customizer.
With a simple swipe, you give your friend access and together you swap out the laces and tweak the color combination. With another gesture, you buy the sneakers — and purchase an NFT version to dress your holographic avatar. They’ll be delivered from the on-demand factory later in the week.
Ecommerce in particular will be fundamentally different in this new interactive metaverse, seamlessly blending the best parts of in-store and online shopping.
Live shopping has taken off recently for the same reason — it offers consumers an exciting new blend of interactive shopping features.
But the metaverse will probably give rise to completely new features that we’ve never seen before.
From these beginnings, we expect to see new forms of e-commerce emerge. Brands will offer their customers hyper-personalized experiences without worrying about the physical world’s many barriers. Individuals can choose how they want to experience the world, the games they wish to attend, the stores they want to shop in, anywhere and anytime. With these reality innovations, we are moving from simply telling stories to actually living inside them.