Removing the physical barriers while shopping online is how we bring a revolution in fashion.
To understand the context of a metaverse in the rise of digital fashion, we can think of it as an extension of advanced technologies that include AR, VR, social e-commerce, and blockchain networks, etc. that amalgamate to create a virtual ecosystem for individuals to enjoy shopping, playing games or connecting with people virtually.
Metaverse- what is it?
The idea of underlying digital fashion in web2 lacks the features of an innovative digital retailer. The metaverse, which recently took the tech world by storm overcomes the challenges that the outdated fashion businesses faced. It works in order of succession to provide a personalized and immersive experience by blurring out the differences between real and virtual worlds.
Metaverse is a virtual evolution providing a 3-dimensional universe to consumers across the world to enjoy real-time monitoring of virtual shops and e-commerce sites.
How do metaverse and e-commerce co-exist?
Metaverse will bring along the transformation that e-commerce rightly needs! A seamless blend of online retail shopping with interactive 3-D visuals offers consumers a rich and immersive shopping journey. And blockchain technology is a plus for it allows safe, secured, and decentralized transactions via both fiat and cryptocurrencies.
Most iconic fashion brands and clothing lines have all started their metaverse e-commerce businesses keeping in mind the demand for rich and engaging visual shopping experiences. It eliminates the drawbacks of traditional e-commerce while also providing better profits and improved customer engagement.
The best way to implement this idea is by brand partnerships between metaverse platforms and fashion enterprises. LootMogul, a sports and e-commerce metaverse platform has just launched its virtual e-commerce store in partnership with Thale Blanc, Hoop Culture, a one-stop sports apparel shopping destination for the fans.
This brings to the table a platform for gaming enthusiasts to engage, and shop merchandise, apparel, and digital goods from their favorite brands under one metaverse space.
Metaverse e-commerce and a redefined shopping experience- opportunities it offers
Easy transactions- Cryptocurrency and e-wallet transactions under the advanced blockchain network have made it easier for customers to freely buy and trade goods in the meta space. Additionally, maintaining transparency in transactions has also resulted in overall engagement.
Personalized and immersive experiences- The option of bespoke customization in fashion industries is a big plus. Adding customized products to the cart while also being able to browse and interact with brands in real-time offers an immersive shopping experience that holds the attention of consumers.
Enhanced ROI- With the use of AR, the visualization of products in 3D format has been quite helpful for buyers. This has also led to a 66% boost in making the decision-making process in the virtual world easy. The more the number of satisfied customers, the greater the Return on Investment, which also tends to grow every day as the metaverse e-commerce (fashion) industry keeps on growing.
Digital fashion and sustainability
An estimate shows people are consuming 60% more garments than what they have been using years ago. This, therefore, means the world’s carbon emissions are mostly coming from fashion industries and a pile of textiles ending up in landfills. This majorly calls for sustainability and what better way to carry it out than empower digital fashion?
With modern technological developments and metaverse in the creation of digital clothing, we can reduce overproduction. The future of this virtual fashion industry can also be a step forward in better eco-friendly practices.
To conclude,
If you would like to get a first-hand experience of exploring a meta e-commerce store, check out LootMogul’s meta stadium shops within our class-apart meta Washington DC Football stadium and other stadium meta shops.
