83 percent of people globally are interested in purchasing virtual goods via metaverse

May 5, 2022

By: Vaamanaa Sethi

Role of internet in retail industry

The metaverse continuum will transform how retailers interact with customers, how work is done, what products and services companies offer, how they make and distribute them, and how they operate their organizations, says a new report by Accenture.

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Pandemic accelerated digital commerce

According to the report, more than half of the customers globally agree that their lives and livelihoods are moving into the digital space. They see metaverse as a way to expand addressable markets and create new revenue streams.

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Brands stepping into the world of metaverse

Sports apparel, equipment and accessories brand Nike debuted its metaverse Nikeland on Roblox in 2021. People can play, attend events and visit the showroom to dress their avatar with Nike gear.

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Similarly, luxury brand Fendi is collaborating with a cryptocurrency and digital asset platform...

...to create accessories for crypto hardware wallets. Gap is among several retailers to launch an NFT collection.

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Customers need unified experiences

Around 94 percent of the retail executives believe that future digital platforms need to offer unified experiences, enabling the sharing of customer data across platforms and spaces.

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Consumers are more interested in virtual buying

The report reveals that 83 percent of the consumers surveyed showed interest in making purchases via the metaverse. Half of them said they had visited a retailer in the virtual world to get advice, make a payment or browse a product range when shopping for a physical item, while the remaining plan to do it in the next year.

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Virtual fashion is the new trend

The report reveals an interesting point that 38 percent of the consumers have already purchased clothes or accessories for an avatar or for themselves. Half of the users surveyed intend to do it in the next 12 months.

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Make-up and hairstyling for avatar

38 percent of the people have also purchased make-up or hairstyling for their avatars or virtually for themselves through a digital filter. And 48 percent of the people are interested in doing the same in the next 12 months.

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Virtual consultation is the new normal

Every 1 in 3 respondents have participated in a consultation in a virtual or augmented reality environment on topics related to health or DIYs. More than 1 in 2 people expressed their interest in doing so in the next 12 months.

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About Retail Technology Vision 2022 report

The survey received responses from 11,000 people over 16 countries including India which studied customer experience and interest in purchasing virtual goods. This survey was conducted between 7th and 15th February 2022.

Credit: Accenture

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