Pacsun’s holiday campaign, for example, is called “PacVerse,” and in the announcement, it teased the extension of its PacWorld experience on Roblox, which includes a holiday gift shop and virtual try-on. Pacsun said these features enhance its brand value and customer experiences. Bloomingdale’s, on the other hand, opened a multi-brand metaverse department store, available on its e-commerce site, which features holiday-themed spaces where people can shop in.
To filter out the noise this holiday season, retailers are solidifying their presence in the metaverse this holiday in an attempt to provide a unique experience for shoppers. Several retailers have experimented with the metaverse this year, and as part of their long-term strategy, they are now incorporating this channel into their holiday marketing plans in hopes that it can also generate sales. As shoppers continue to shop at a range of channels this holiday season, brands are holding onto the possibility of the metaverse playing a bigger role in shopping in the near future. However, experts warn that it might be too soon for the metaverse to offer a return on investment. There are several factors influencing retailers’ marketing decisions this holiday, said Ryan Detert, CEO of influencer marketing firm Influential. For many marketers, the metaverse allows brands to connect with their audience in a digital realm even if they aren’t in a store or in close proximity to a store, he said. While still in its experimental phase, it holds a lot of promise for brands who enter the platform early on. “The promise of the metaverse is that it is this immersive place that people spend a good portion of their lives,” Detert said. “Having stores and brand awareness in those places and experiences in those places will likely lead to more revenue and more opportunities to monetize on a holistic level — that’s the hope.” Gen Z, millennials and Gen Xers are projected to dedicate four to five hours per day to the metaverse in the next five years, according to a survey from McKinsey. Full story here
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