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How Metaverse will change consumer shopping

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Do you think that you can rely on technology just to shop? We do most of it. More than three-quarters of shoppers worldwide say they now rely on technology for household chores, exercise and of course shopping. In just four years, that number has almost doubled.

Consumer behavior as a whole has changed dramatically in the last decade due to technological advances and those changes will only continue. In the near future, we may see a new type of shopping: shopping on Metaverse.

Okay, let’s first establish what a metaver is.

The Metavers is a term coined by Neil Stephenson in his science fiction novel Snow Crash. It refers to a 3D world that gives the user an immersive experience. It is created by computer graphics and allows users to interact with each other in virtual space.

Although the whole concept is still in its infancy, customers have already started shopping on Metaverse.

As it turns out, an average home in Metaverse will cost you $ 76,000, a piece of artwork will pay you back $ 9,000, and a digital designer handbag will cost about $ 3,000. Do people really spend so much money in the virtual world? Yes, and the trend is only going to increase.

Metaverse mainly appeals to the younger generation

By far, Metaverse is the most popular among the younger generation. This is probably because they are most comfortable with technology and prefer to shop on the go.

For example, the vast majority of genres want to be able to purchase products – both physical and digital – no matter where they are.

The concept of shopping on Metaverse is similar to that of in-game purchases. We already see this with games like Fortnite, Roblox and various sports games where players can buy virtual coins to buy game items.

According to a recent obsession survey, about 75% of Z subscribers make digital purchases within a video game. And 60% of these buyers think that brands should start offering their products on Metaverse.

The good news for brands is that there are already a number of ways to convert to Metaverse.

  • Establish a metaverse presence

The first step is to establish a presence in Metaverse. Through VR and AR integration, users can interact with the brand’s 3D presentation. This can be done by creating a virtual store or displaying it in a virtual trade show.

There are already several platforms that brands can use to do this, such as Sansar, High Fidelity, and Decentraland.

  1. Getting to know the target audience

The next step is to get to know the target audience. What are their shopping habits? Do they like and dislike? This can be done by conducting traditional surveys or using analysis tools to track user behavior.

  • Uses virtual search optimization

The ultimate step is to use Virtual Search Optimization (VSO) to ensure that users can find the brand in Metaverse. This can be done using keywords and other SEO techniques.

Closing Thoughts

This is all new to most of us. However, like all things, it will become more normal over time. The key for brands is to stay ahead of the curve and be open to new opportunities. The possibilities are endless.

Only time will tell how Metavers will change consumer shopping. But one thing is for sure, this is going to be a wild journey. Are you ready for it?

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