As a brand, are you wondering how to showcase your product in the metaverse? You might already know, the growing demand for the brand’s presence in the virtual spaces of the metaverse. Many luxury brands from Gucci to Balenciaga are actively charting up their strategies to excel in the 3D world.
Here are some facts that will help your brand understand the intensity of having 3D virtual spaces in your strategy:
- The metaverse will be worth $800 million by the year 2024.
- 1.7 billion mobile AR users are expected by 2024 worldwide.
- Currently, there are more than 171 million VR users globally.
- The global AR, VR, and MR market is to reach $250 million by 2028.
- 61% of the consumers prefer brands and retailers that offer AR and VR experiences.
All of these figures point to the same glowing direction of the metaverse. Having a metaverse-based strategy in your marketing plan has become essential to win the audience and boost your presence.
Does your brand want to enter the Metaverse? Then download our FREE guide today!
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All of these figures point to the same glowing direction of the metaverse. Having a metaverse-based strategy in your marketing plan has become essential to win the audience and boost your presence.
In this blog, you can learn more about the following:
- A Brief Introduction to the Metaverse
- Recent Branding Developments in the Metaverse
- Why does your brand need to do Product showcases in the Metaverse?
- What are Virtual Spaces in the Metaverse?
- Why does your brand need Virtual Spaces-driven Strategy to Build your Presence in the Metaverse?
- How to do a Product Showcase using Virtual Spaces?
Brief Introduction to the Metaverse
Understanding the space where you want to build your brand is essential to preparing relevant and effective strategies. The definition of the metaverse is dynamic and constantly evolved with new developments and features. Many view the metaverse as an internet innovation, in which an entirely new world, albeit virtual exists.
The metaverse is a 3D world that mirrors the world, in terms of interactivity and sociability using VR and AR. It is the next successor of the internet, popular as Web 3.0, revolutionizing culture, consumption, and consumer behavior around the world.
Many major companies like Facebook (now, Meta) are announcing and building plans for the next few years in the Metaverse. While others are publishing prophetic reports on how the metaverse is going to take over the real-world operations. All these together, add more fuel to improving brands’ presence in the virtual world.
The biggest advantage metaverse offers is that companies of any size can do their product showcases in the metaverse. It presents equal opportunities to companies of all sizes, but it rewards brands that take the first leap. In your brand’s case, the first leap is doing product showcases in the stunning virtual spaces.
Let’s take a look at the brands that have taken the first step, and reaping the benefits the virtual world offers.
In recent times, interactive product showcases are becoming crucial in determining the success of the products.
Recent Branding Developments in the Metaverse
Gucci Garden
Partnering up with Roblox, Gucci has created a one-of-its-kind immersive multimedia virtual tour for its consumers. Known as Gucci Garden, visitors as virtual avatars can stroll around and admire the virtual exhibitions. In different rooms, the avatars can decorate themselves after buying the items displayed in the garden.
Ralph and Russo
Ralph and Russo was the first-ever luxury brand to move into the realm of the metaverse. By collaborating with VSLB, it has created its first digital haute couture for its 2020/2021 F/W collection.
Together with a beautiful virtual model, the brand was able to launch its collection with digital apparel despite the pandemic. Consumers very much loved the product showcase, where our virtual model graced the world with Ralph and Russo’s amazing designs.
Disney Metaverse
The entertainment giant is now striving to create digital interactive experiences to keep up with the changing trends. Known for its memorable experiences in the real world, Disney wants to replicate the same in its own metaverse.
Previously it has hinted at wearables with capacity that can transcend physical boundaries and provide 3D experiences to the user. Through 3D technology, the brand aims to carry on its ‘next-generation storytelling’.
Nike Virtual Sneakers
To establish itself in the metaverse, Nike has acquired RTFKT studio, a company that makes digital sneakers for the metaverse. Users can visit its virtual store in the metaverse to buy these limited digital assets. Recently, its latest NFT sneakers, ‘Cryptokicks’ were sold for $130K, a proof of the growing demand for metaverse showcases.
The History of Whoo
The luxury Korean skincare brand, The History of Whoo, has collaborated with our creative studio on a 3D VR product showcase. One of its flagship products, Cheongidan was launched together with popular French artist, Pierre Marie. VSLB created an immersive virtual reality tour for the product with a strong Korean historical concept, enhancing the product’s popularity.
Interactive product cases are becoming a new way of launching products, connecting with consumers, and widening social media reach.
Start visualizing your product in the Metaverse by downloading our FREE virtual spaces guide.
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Why does your brand need to do Product showcases in the Metaverse?
Engage with your Consumers
The main goal of your brand’s marketing is to communicate with the target audience enough to convert them into loyal customers. When your brand enters the metaverse, you reach this goal with impressive speed and quality. Due to the pandemic, consumers now spend more time online when they shop.
With the metaverse, this time increases exponentially due to the interactivity feature of AR and VR technology. increased average time spent shopping. When a product showcase is conducted in your virtual space, global consumers can engage with the 360-degree view.
They are now able to shop online like in the real world, from their own space and comfort. As a result, we can say that this unique digital experience is directly proportional and translates to conversion and consumption.
In addition to the engagement and excitement metaverse brings, it also pulls every generation closer. While virtual worlds and 3D environments are popular among Gen Z and millennials, other generations aren’t behind anymore. With lots of time and things to learn, consumers from Gen X and baby boomers are actively participating in the metaverse. Therefore, the metaverse is a place where your brand can target audiences of any generation.
Increase your Sales
The metaverse shopping experience is so rich and memorable that many brands have noticed a significant increase in their conversion rates. This is because, in the metaverse, your consumers can view the product showcase any number of times for an unlimited time. Also, they can interact with the product as they wish, as most 3D product showcases offer 360 views.
AR and VR tours can be added with small games where they look for the product through exciting and informative clues. This not only glues the consumers to your brand but also cements their loyalty from the fun. It helps them remember your brand despite the declining attention span due to the interactivity of virtual spaces.
Another advantage of the metaverse shopping experience is the decrease in return rate. As your consumers are fully equipped with the knowledge of your products, they are less likely to return the offerings. This considerably decreased the returns cost on your part.
Broaden your Social Media Reach
Social media will continue to be a key touchpoint in the metaverse era. Every product showcase, advertisement, and exhibition can be easily shared across diverse social media channels. This not only increases reach but entices the consumers who are not well-aware of the charm of the metaverse shopping. Buyers from every corner of the world can be a part of your majestic product showcases.
Express yourself Uniquely
Another fascinating aspect of the metaverse is that it allows your brand to express itself uniquely. As metaverse can be modified on the computers, your brand can add your own style to the product showcases. You bring your vision that is beyond physicality to life with virtual stores and showcases in the metaverse.
Prepare for the Future
The future of product showcases and launched is going to be in the metaverse. Physical stores will gradually disappear and will be replaced by personalized virtual stores in the metaverse. As consumers prepare for fully digitalized shopping experiences, as a brand you have to start as well.
Start your first product showcase in the virtual spaces now to be ready for the future. Besides being abreast with the trend, your brand can also emerge as a frontier in AR and VR brand presence.
Marketing in Virtual Spaces is the first step in establishing your brand in the metaverse.
What are Virtual Spaces in relation to the Metaverse?
Virtual spaces are 3D spaces where you can showcase your product, hold a virtual launch, and run a digital store. These days, virtual spaces are in vogue, mainly due to the ease of creation and personification. As a leading 3D studio, specializing in the creation of artistic virtual spaces, VSLB says with confidence, that virtual spaces are the first step in taking your brand into the metaverse.
Why does your Brand need Virtual Spaces-driven Strategy to Build your Presence in the Metaverse?
Because the metaverse is in its infancy and the developments are ongoing to present a virtual world without any technical glitches. While they are being fixed, instead of waiting, brands can learn the workings of metaverse through 3D virtual spaces. Also, the metaverse is multitudes of virtual spaces, when put together become an entire world.
Therefore to excel in the metaverse, product showcases, and promotions in virtual spaces is a necessary step.
How to do a Product Showcase using Virtual Spaces?
VR Product Showcase
A virtual reality product showcase is where your brand will be introduced in a customized virtual space. In this tailor-made virtual space, your consumers can take a VR tour, moving around and exploring the space. The virtual space is built on a thoroughly-thought creative concept by a 3D creative studio like ours.
The concept tours offer experiences similar to the times when buyers use your products. In this way, you create a connection with your consumer by giving them an exciting glimpse ahead of their consumption.
Geo-AR Product Showcase
Another interesting way to do an interactive product showcase is by implementing geography-based Augmented reality. When users come across locations, augmented content like visuals, virtual spaces, and audio is triggered through mobile scans.
Consumers can interact with the products in real-time, which in turn helps them with their buying confidence. It is also a fun experience for consumers, motivating them to find such augmented content at various locations.
Move into Futuristic Branding with VSLB
The landscape of branding is evolving at a fast pace and is directed towards providing metaverse shopping experiences to the customers. As the first step of futuristic branding, your brand can start by launching creative product showcases in artistically stunning virtual spaces.
We, as a leading 3D creative studio, are well-versed in finding and crafting the right virtual space for your products. In short, start your moves into the metaverse by creating your first virtual space campaign with us!
