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Soon time to go shopping in the metaverse

Soon time to go shopping in the metaverse

Metaverse expectations are growing with companies preparing to benefit from consumption in the virtual world. “Vendors are already building ways to replicate their lives in digital worlds. By 2026, 25% of people will spend at least one hour per day in the metaverse for work, shopping, education social and/or entertainment”, marketing and research firm Gartner predicts.

By 2026, 30% of the organizations in the world will have products and services ready for metaverse, the forecast estimates.

“From attending virtual classrooms to buying digital land and constructing virtual homes, these activities are currently being conducted in separate environments. Eventually, they will take place in a single environment – the metaverse – with multiple destinations across technologies and experiences”, says Marty Resnick, research VP at the company.

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As no single vendor will own the metaverse, Gartner expects it to have a virtual economy enabled by digital currencies and nonfungible tokens (NFTs).

“The metaverse will impact every business that consumers interact with every day.”

“It will also impact how work gets done. Enterprises will provide better engagement, collaboration and connection to their employees through immersive workspaces in virtual offices. Businesses will not need to create their own infrastructure to do so because the metaverse will provide the framework.”

”In addition, virtual events that have gained popularity over the last 18 months will offer more collaborative and immersive networking opportunities and workshops.”

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“Enterprises will have the ability to expand and enhance their business models in unprecedented ways by moving from a digital business to a metaverse business,” Resnick says.

However, Gartner warns organizations about investing heavily in a specific metaverse. “It is still too early to know which investments will be viable in the long term, but product managers should take the time to learn, explore and prepare for a metaverse in order to position themselves competitively,” said Resnick.

The forecasts defines the metaverse as a collective virtual shared space, created by the convergence of virtually enhanced physical and digital reality. It is persistent, providing enhanced immersive experiences, as well as device independent and accessible through any type of device, from tablets to head-mounted displays.

Big players like sports fashion Adidas, fashion chain H&M and others are also already in the growing metaverse. Adidas has said the company is launching a new collection, available both in the metaverse and in reality at the same time, so that your avatar in metaverse can have the same type of trainers as you yourself have going to the office.

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Clothing brand H&M has announced that it will offer its customers a three-dimensional shopping in its virtual store in the metaverse. Customers can purchase what they want in the CEEK City universe, a three-dimensional digital world.

Customers can also order these clothes from H&M’s physical stores with CEEK coin, a metaverse coin project connecting artists, athletes and digital content creators directly with their fans in virtual worlds.

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