Is the metaverse important in the future of ‘retailers’?

the metaverse It may seem like a complex, distant and unknown concept, but it is not a new topic, in fact, many of us are already part of this world that combines the physical and the virtual for a long time.

(Digital housing in the metaverse already costs 13 times more than physical.)

Video games were among the first to present digital spaces to interact with other people through avatars (individual online projections) that represent us on the internet. Second Life, World of Warcraft or even the Sims have developed this concept for decades.

However, this concept has recently gained more visibility due to the pronouncements of large technology companies that are investing heavily in the development of the metaverse within other sectors that directly influence retail.

This has caused many consumers to be on the lookout for the technological and immersive advances that will come in the coming years, in a universe that, according to a report by Bloomberg Intelligence, is already estimated to have a value of 500,000 million dollars and it is estimated that it will reach 2 trillion by the end of the decade. A giant opportunity for the pockets of brands.

Hyper-real worlds, augmented reality shopping and 3D virtual tours already exist. But the globalization of the metaverse and its implementation for different ranges of experiences opens up the range of possibilities for electronic commerce because the metaverse makes it possible experience, create, sell and buy in a very similar way to how we do it every day, but from the internet.

In many ways, the metaverse could be considered the next evolution of the internet. And as has happened with other technological innovations – such as the initial rise of e-commerce that changed the business landscape – not considering this new reality and understanding it could cause some brands in the sector to be left behind.

Today, companies have the opportunity to prepare in advance and make the most of every new opportunity. At Adobe we believe that it is very important for brands to start by understanding what the metaverse is, how it works, what opportunities it opens up for their brands and audiences, what kind of immersive experiences can I offer my clients, what kind of presence can I have and above all understand that there will not be a single metaverse, but many, accompanied by multiple immersive experiences. For this to happen, companies must keep interacting through tests and pilots that can reveal what business opportunities they have in that virtual space. Iteration is key in the face of disruptive innovations like the metaverse.

There is no one and only metaverse

Although Meta (Facebook) has positioned itself talking about the subject, there is not only one metaverse. At Adobe, we anticipate that permanent digital experiences will develop in which people interact with digital objects, digital environments, and each other.

These may be through Virtual Reality (VR), where people put on a headset and enter a fully digital 3D world. Or through Augmented Reality (AR), where our real-life world is enhanced with a digital experience, often through our smartphones.

The concept continues to mature and develop, but it certainly has significant potential to change the way we work, play, shop and connect.

However, this will be determined by global user adoption and access to the technology that enables these experiences.

At Adobe, we’ve spent years helping businesses deliver customer experiences across all current channels, and the metaverse is no exception.

Some brands are already using 3D design workflows, such as virtual photography with tools like Substance Stager, not only to create amazing customer experiences, but also to make their product design and marketing content production seamless. better, faster and more efficient.

In that sense, using these tools for current workflows is not only critical to success, but also makes these brands ready for the metaverse of future customers.

This is a process that brings great benefits to businesses that pursue innovation; In product design, it is possible to largely eliminate the need to build and send physical prototypes, allowing products to be tested digitally before creating a physical version. In addition, it allows designs to be created and modified easily and gives the possibility of experimenting with different experiences more easily. There is a large audience and a great need that cannot be missed.

Today we hear about exclusive ownership of virtual artifacts, avatars, and even real estate that already inhabit the metaverse. And in the new economy of this immersive world, we expect to see exponential growth in digital commerce.
Customers want digital possessions, clothing, artwork, avatars, and even real estate. For this reason we have determined that the buying, selling, and trading of these items can be done with the support of the Adobe Experience Cloud, including Adobe Commerce capabilities.

The acceleration to digital that we have seen over the past two years is unprecedented. The digital economy is the engine of business growth in all industries, but the questions remain how can brands unlock this opportunity? When is a good time to take the step into technology?

In a single sentence, at Adobe we are convinced that it all comes down to delivering experiences that are relevant to our customers, that are consistent, that add value, that honor customer preferences, and that respect their privacy.

Daniel of the Palace