Since the first time we clicked ‘purchase’ on the internet, there has been a schism between physical world commerce and digital e-commerce.
You can touch or try on objects before purchasing them in the real world.
E-commerce eliminates physical relationships. It provides internet consumers with unrivaled ease and access to products and services. Then there’s the metaverse, where these two worlds (physical and digital) collide to produce improved experiences. These have the potential to change e-commerce.
Let us look at how the metaverse plans to change e-commerce in this article!
The metaverse & e-commerce: What does the metaverse represent for businesses?
There are several instances of how e-commerce has welcomed the metaverse’s capabilities.
For many users, VR headsets are still far beyond their imagination. But, several firms are stepping into this digital world with a lot of hope and enthusiasm. What is their goal? To build more seamless, engaging experiences! They reduce friction in the purchasing process and increase consumer loyalty.
Cutting down barriers between retail and online channels via digital purchasing
We’ve watched businesses struggle to offer a consistent experience. This could be across e-commerce, brick-and-mortar, and social networks since ‘omnichannel’ became the ultimate term in retail.
But, this is far easier than it sounds. Catering to every possible purchasing experience requires a couple of things. A sophisticated tech stack and absolute data unification across every touchpoint. Something that even huge retailers have failed to organize.
This is why some firms have created something altogether new. Integrated, dynamic digital storefronts that combine the best of online and physical shopping.
Virtual shopping has transformed e-commerce. No need to shuffle product catalogs. Real-time experiences where you or better say your avatar would take a walk around the store. Experience 3D rendered stores and displays enabled by augmented and virtual reality technologies.
It’s a first step toward really closing the gap between the immersion of physical retail and the simplicity and convenience of internet purchases.
Providing more customization
Personalization is quickly becoming a must-have for any brand looking to build customer loyalty. 80 percent of users say they are more inclined to buy from a company that offers tailored experiences. Three-quarters consider the concept of ‘living customer profiles’ useful to the shopping experience.
But, with e-commerce, personalization often ends with product suggestions or discounts.
This may increase conversions. But, it does not inspire buyers to explore your brand’s environment and engage in the culture surrounding your product catalog.
Nike has always been a leader in digital connection and innovation. So it’s no surprise that the company was the first to engage in the metaverse.
Nike is taking huge moves into customized virtual experiences. It is submitting a variety of trademarks for virtual shoes and apparel. This is a signal toward a future release of NFTs).
Active community involvement
Investing in community-building projects would be a great option for e-commerce firms. Social proof and recommendations would play a huge role in marketing. This would attract a good deal of customers. By allowing consumers to actively engage in your company’s activities, you can create a more symbiotic connection. This will keep followers informed about what they want from your business.
Marketers used to depend on PR activations and influencer events. The metaverse has created new chances for brands. They are looking to bring more of their consumers under one (digital) roof.
Events were limited by location, logistics, and, more recently, public health constraints. Immersive marketing experiences are now available to everybody.
Before you go!
We’re touching the edge of the advancements that the metaverse will bring us.
As a result, there are no imaginative constraints on what internet businesses may do in this new sector.
One thing is certain: e-commerce will change in far more ways than we can imagine in the next few years.
So, if you want to revamp your company and give it a whole new meaning, Nftically has something for you. Purchase your virtual property on COMEARTH now! Create your virtual shop, and start your business. COMEARTH is an ecosystem of multiple stakeholders. They generate value via interaction or transactions. These could be land brands, tourists, consumers, marketers, etc.
Prepare to shine in the metaverse!