Deloitte: Future of Retail

Deloitte: Future of Retail

Deloitte: Future of Retail

By Julia Buckman, Audrey Adam, and Luke Flaherty

Discover the new, immersive customer experience

The metaverse and Web3 will propel us into a new future of retail customer experience (CX), expanding the breadth and depth of customer interactions. Many retailers are capitalizing on the opportunity and moving into the next phase of CX in the metaverse.

What’s possible with the metaverse

There are those who believe the hype cycle is over, and they feel the weight of more pressing concerns such as significant supply chain challenges and muted consumer spending. There is no doubt that these critical challenges must be addressed quickly, yet retailers can’t afford to stop innovating across their business with Web3 technologies. In 1995, a Newsweek article suggested the internet was just hype and that “no online database will replace your daily newspaper, no CD-ROM can take the place of a competent teacher, and no computer network will change the way government works.”1 Now is not the time to file the metaverse away but rather to discover the benefits of the metaverse.

Imagine how the metaverse can transform the retail customer experience: Consumer Luke is preparing for a summer vacation and doesn’t know what to pack. What if, instead of visiting a retailer to try on outfits, Luke could enter the metaverse to get real-time inspiration, visit his favorite retailer, and make a purchase after virtually trying on a new look? All of this will be possible, transforming an often time-intensive chore into a fully immersive virtual adventure.

Continue reading here: The Future Of Retail: Customer Experience In The Metaverse

By | December 5, 2022