While a lot of people are on the fence about the concept itself, 58% of consumers believe that the Metaverse will eventually replace social media as social media 2.0. Moreover, brands are moving towards a Phygital (Physical and Digital) mode of reaching out to consumers. Today, AR/VR-powered Metaverse environments offer them a unique opportunity. A leading technology conglomerate sought our assistance in identifying and comprehending Metaverse shopping adoption trends, specifically to gauge the interest of retailers and brands, as well as consumer perceptions of shopping in the Metaverse.
About the client
Our client is an American multinational technology company specializing in developing technology that enables people to learn, play, think, transact, and socialize in the Metaverse.
Business challenge
Our client sought a comprehensive study of the Metaverse adoption trends, specifically to gauge the interest of retailers and brands, as well as consumer perceptions of shopping in the Metaverse. The technology leader aimed to envision what the future holds for retail experiences in the Metaverse.
Netscribes solution
Leveraging our known expertise in technology intelligence, Netscribes implemented a multi-pronged research approach with a clear goal to provide our client with timely and relevant insight into adoption trends in the Metaverse. The study covered in detail the emerging AR/VR trends, leading Metaverse platforms and rise of NFTs, and consumer perception, followed by an analysis of how retailers are embracing this virtual world and thought-leaders’ predictions on the future of Metaverse.
We carried out an in-depth adoption trend research and analysis into our client’s challenge covering the following aspects:
- Consumer interest in the Metaverse
- Key Metaverse platforms
- AR/VR technology adoption trends in retail
- Metaverse and AR/VR adoption bottlenecks
- AR/VR-led brand engagement strategies
- Benefits of AR/VR implementation in retail
- The creator ecosystem in the Metaverse
- The future of digital and virtual shopping events
- The use of NFTs in the retail Metaverse
Results
Our research findings and Metaverse adoption trend analysis helped the client initiate the following:
- Stage-by-stage implementation of their metaverse presence for retailers
- Targeting specific geographies
- Adoption and expansion of Metaverse shopping engagement strategies
