The report elaborates on how metaverse-related technologies are reshaping the retail landscape and how brands and stores can drive sales in virtual worlds
‘Retail in the metaverse: Ready, set, engage’ report by technology consulting company Brillio elaborates on how metaverse-related technologies are reshaping the retail landscape and how brands and stores can drive sales in virtual worlds.
The report elucidates the five ways in which retailers can achieve business value in the metaverse including 3D store reinvention, new NFT strategies, experiential metaverse shopping, new supply chain frontiers and revamped customer/field services.
It also covers the next steps retailers can take towards building virtual environments with recommendations on how to proceed and things to keep in mind while entering the metaverse with relevant examples.
Key highlights of the report are as follows:
- The metaverse presents brands, retailers and customers with a new hybrid. It combines the convenience of online e-commerce with brick-and-mortar shopping’s visual and social experiences and the ability to drive footfall and impulse finds to build basket size.
- Virtualized 3-dimensional models can tackle tough supply chain challenges, including demand forecasting, rapid fulfilment requirements and SKU management.
- Retailers can use the metaverse to train and prepare field service personnel in a cost-effective manner.
