From the early days of online shopping to the rise of influencer marketing, there’s no doubt the internet has revolutionized how we shop and make purchasing decisions. Now that we’re entering the next phase of the internet–driven by the metaverse, blockchain and NFTs – there will be new opportunities for fashion brands and retailers to connect with their audiences and sell their wares.
Clearly, high-end brands have been leading the way with this trend. But as with most things in fashion, trends that start with designer labels generally filter down to high-street brands. Therefore, we can certainly expect to see more and more brands, all along the pricing spectrum, release digital-only products – whether those products are for sale or purely to create marketing buzz. As an example of the latter, Coca-Cola recently launched a virtual drink within the Fortnite game.Apple iOS 17.
I've talked a lot about fashion, but rest assured, the digital product trend is applicable to all sorts of brands. In the metaverse, we’ll be able to buy digital versions of practically anything – clothes, obviously, but also virtual furniture , a virtual car to cruise around the metaverse in, virtual pets … and even virtual jewelry.Brands are already beginning to move beyond the static retail websites of old and create immersive virtual shopping and brand destinations within the metaverse.
French retailer Carrefour is already using blockchain to track meat, dairy and fruit from farm to store. Customers can simply scan a QR code in-store and get information on where the product was harvested and whether pesticides were used in its production.
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