Metaverse retail stores must consider community, experience and engagement

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 11, 2022, 1:35 PM GMT+0

To boost loyalty and nurture prospects in the metaverse, retailers must craft deliberate and well-thought engagement strategies and consumer experiences (CXs).

Some retailers are looking to go beyond physical storefronts and foray into metaverse as the virtual space grows in popularity. With metaverse offering opportunities to create new experiences, nurture leads and drive sales, retailers must be intentional about their metaverse strategy to engage consumers.

Brands like Lululemon, for example, have been nurturing their community through in-store workshops and have clear objectives about what they want their community to be like. Before building a metaverse community, consider brand goals, how the metaverse can enhance CX, and the type of virtual world to create. Leverage the metaverse to bolster CX, build a virtual community and augment engagement.

Avoid the "laundry list" approach and analyse which experiences contribute to the metaverse experience and which are simply being replicated from other channels. Consider that fact that non-fungible tokens (NFTs), cryptocurrencies and digital wallets, while popular, may act as access barriers. Bridge digital and physical to offer personalised buying experiences like concierge-like services and AI-powered chatbots in the metaverse.

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