Speedread
Brands build their virtual presence and inventory in readiness for the future Metaverse opportunity

The Metaverse seems to be the word on everyone’s lips right now. Over the last year, there’s been a sharp rise in the number of brands entering the race to capture a cohort of customers who are spending time and money customising their digital avatars in gaming platforms. It has been reported that one in five Roblox gamers update their avatars daily (The Drum, 2021).

Brands are collaborating with gaming platforms to create their own immersive worlds, tapping into a new virtual customer base, and engaging them in a shoppable brand universe. The appeal for brands entering virtual worlds will only grow, as sales for digital fashion and luxury brands are predicted to reach $50 billion by 2030 (Morgan Stanley, 2021).

Nike reveals ‘Nikeland’ on Roblox, a 3D world that draws inspiration from the brand’s HQ. Players can dress their avatars in a selection of Nike products and compete in mini games such as dodgeball, tag and the intriguing ‘the floor is lava’. Nike is on a mission to get kids moving and they’re using virtual experiences to help achieve this. Nikeland has an ‘accelerometer feature’ that allows the transfer of offline movements into online play.

We’re not just seeing growth in sportswear – UK Department store John Lewis has partnered with broadcaster, ITV, to launch a virtual experience on Fortnite. The gaming experience is based on a series of challenges seen in the ‘castle trials’ from the TV programme ‘I’m a Celebrity… Get Me Out of Here!’. There is also an in-game John Lewis store, where players can stock up on supplies for each game, or alternatively, play games inspired by John Lewis’ festive campaign.

 

Household takeout

As customers spend more time in virtual worlds, brands will need to consider the role of physical formats to ensure channels are complementary, play to their individual strengths, and maintain customers engagement across realities.

Get in touch if you’d like to discuss how Household could help you explore how physical experiences can be used as a segue into the Metaverse.

 

Also in the news:
Retail:

House of Vans opens in Mexico City

Highsnobiety launches luxury concept store at Zurich Airport

Amazon opens a second 4-star location in Westfield London

Starbucks opens first checkout-free store using Amazon’s Just Walk Out technology in New York

WHSmith will open its first checkout-free store using Amazon’s Just Walk Out technology in New York

 

Hospitality:

The Soho House Group will open The Ned in NYC in summer 2022

Six Senses Hotels, Resorts and Spas will debut in Kyoto, Japan in 2024

 

Campaigns:

Instacart launches first brand campaign around at-home family, foodie moments

 

Initiatives:

John Lewis has partnered with broadcaster, ITV, to launch a virtual experience on Fortnite

Nike has revealed ‘Nikeland’ on Roblox, a 3D world that draws inspiration from its HQ

Co-op launches reusable packaging in partnership with Unilever

M&S plans to launch clothing rental service

 

Image courtesy of Nike

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