The metaverse, or immersive and sensory virtual space, where people can interact with virtual objects in real life, is a tool of great potential for the new digital economy and especially in the retail industry, where consumers can create, buy, and sell goods in a way that has a more significant impact on their shopping experience.
To support this trend, the figures delivered at the Teamcore webinar, Perspectives Towards Metaretail, standout indicating that by 2030 the metaverse would reach a value of 13 billion dollars globally. In Latin America alone, it will represent 5% of GDP by 2031, demonstrating its positive impact on consumers and industry.
One of the great opportunities for the retail sector is that the metaverse further enhances omnichannel strategies where customers have cohesive and coherent communication across all media.
Likewise, the phygital experience is expanded, which is the union between e-commerce and physical stores, taking advantage of the benefits of both environments to build an integrative framework that merges them where the customer approaches brands successfully, turning this trend into a new virtual economy with consumers in search of personalized shopping experiences that constantly surprise them.
In addition, it enables integration between channels such as instant commerce (‘Quick Commerce’) and evolving delivery processes, thanks to the application of technologies such as autonomous vehicles or drones for package delivery, robots for sorting and packaging products; or ‘dark stores,’ centralized sites where products are stored and distributed almost immediately.
The metaverse shopping experience, based on artificial intelligence, augmented reality, virtual reality, and mixed reality, where different technologies are involved, is positively impacting the evolution of the retail sector to meet the needs of brands and the new habits of digital consumers.
In our ebook “The Value of Competitive Intelligence in the Retail Sector to Improve its Usefulness,” you will find more information about the trends, the future, and conclusions that the retail sector has within the new opportunities that the metaverse offers in a changing and dynamic market.
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