The 3 Pillars of the Retail Metaverse

The 3 Pillars of the Retail Metaverse

The 3 Pillars of the Retail Metaverse

By Will Hayes

Adidas, L’Oreal, and even Martha Stewart have already jumped into the metaverse. Retailers see “metaverse” and flashback to twenty years ago when e-commerce kicked off. They prefer not to be the ones launching their first HTML site while the competition is launching their ecommerce platform.

The metaverse introduces a new platform, new currency, new opportunities, and new ways to fail. Here’s how brands can build for the metaverse and catch the wave before it crushes them.

Grow from your physical store

The metaverse feels intangible right now, in the same way that a website felt tenuous in the ’90s — and we all know how that ended. Ecommerce, including selling on social channels, became the gold standard and an entire industry of technology and consultants grew to support it, paving the way for D2C retailers who abandoned physical channels altogether.

Retailers that have used physical locations to differentiate their experiences have struggled to find a way to bring this to the digital world. One of the most well-known examples of this is Sears. Once a leading department store that anchored malls all over the country, Sears failed to evolve to omnichannel and was crushed by department stores including Nordstrom and Kohls.

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By | March 25, 2022