Retailers and consumer products (CP) firms are beginning to explore how they can leverage the metaverse to create valuable, immersive experiences for customers, despite some uncertainty around the technology’s future.
The metaverse represents an emerging 3D, interconnected virtual reality where users engage as avatars in a highly immersive environment. While a fully developed metaverse remains conceptual, many brands are already experimenting with immersive 3D experiences on isolated platforms like Roblox and Decentraland. Others are creating smaller virtual experiences directly on their websites or apps to enhance customer engagement and conversion rates.
For both business-to-business (B2B) and direct-to-consumer (D2C) contexts, integrating virtual/augmented reality (VR/AR), gamification, and personalization has proven to increase engagement. For example, retailers can now showcase products in 3D, allowing customers to visualize items within a virtual space, like a home setting.
What’s the ROI of 3D Shopping Experiences?
Data reveals a clear interest in 3D shopping: 82% of visitors to a product page use the 3D view, with 95% preferring this experience over video. According to BYONDXR, the average consumer spends around five and a half minutes in metaverse shopping experiences—compared to three minutes on standard e-commerce platforms.
"The goal of the metaverse is to create a richer, more engaging online experience.” "Brands are asking how they can make their interactions with consumers more 'metaverse-like,' driving the adoption of immersive tech."
However, this metaverse ROI currently comes from owned e-commerce channels rather than fully immersive worlds. Since only 60% of consumers are familiar with the metaverse, companies should take a gradual, integrated approach, focusing on Web 2.0+ metaverse experiences to build familiarity and drive adoption.
Here are the top five metaverse use cases that retailers and CP firms should consider:
1. Direct-to-Avatar Commerce and Data Collection
Metaverse experiences provide a valuable opportunity for brands to collect first-party customer data in an engaging format. Consumers tend to share more data within gamified, interactive experiences because they feel they are receiving value in return, such as avatars, NFTs, or access to virtual worlds.
For example, 86% of users playing a game on a platform like BYONDXR are willing to share their data in exchange for incentives, creating a valuable data source for retargeting and personalization.
2. Gamification for Younger Generations
For Millennials and Gen Z, who rank gaming as a top metaverse activity, gamification is particularly effective. Younger consumers are drawn to celebrity-backed brands over traditional ones and are less likely to engage with legacy brands. Gamification in a metaverse setting helps to capture this demographic’s attention.
Procter & Gamble APAC and Shopee, for instance, launched a virtual metaverse shopping experience where consumers navigate a 3D home to explore products. With games like "Laundry Game" and an Olay quiz, users can win vouchers, making the shopping experience engaging and rewarding.
3. Metaverse Commerce on Owned Channels
Unlike external metaverse platforms that may require cryptocurrency transactions, brands can create metaverse experiences on their own websites or apps, allowing customers to shop using familiar regional currencies.
Bloomingdale's celebrated its 150th anniversary by launching a 3D virtual store on its e-commerce website. Here, consumers could shop luxury brands like Stella McCartney and Salvatore Ferragamo, and participate in a scavenger hunt to unlock exclusive experiences. This controlled environment allowed Bloomingdale's to maintain its aesthetic and brand messaging.
4. B2B Virtual Showrooms
Metaverse showrooms are becoming popular in B2B spaces, enabling wholesalers to showcase products and engage retail partners. Virtual showrooms reduce the need for in-person interactions while allowing brands to gather insights on buyer behavior.
Mitsubishi created a virtual showroom in Japan for their air conditioning units, showcasing products in 3D within a virtual home. Retail partners could explore products, view information on virtual screens, and place orders—all within the virtual platform.
5. Metaverse for Internal Training and Onboarding
CP firms are also using the metaverse for internal purposes, such as training and onboarding. Mondelez India, for example, provides new hires with Oculus headsets, allowing them to experience virtual tours of company facilities, fostering a stronger sense of community in remote work environments.
Incorporating metaverse experiences into company culture can enhance engagement. HR teams can use this technology to create more meaningful onboarding experiences, helping to build a connected and upskilled workforce.
Integrating Metaverse into a Holistic Strategy
As brands explore the metaverse, it’s essential to consider how these experiences fit into their broader engagement strategy. Businesses should focus on scalability, data integration, and alignment with their overall tech stack to ensure their metaverse initiatives can evolve over time.
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