Retail strategy: revolutionising e-commerce in NZ with the metaverse

E-commerce has been growing rapidly in recent years as more businesses move online. However, online shopping has many limitations, such as the inability to try on or test products before purchase. The brick-and-mortar store experience, on the other hand, is more immersive as it allows consumers to try, see and touch products that they are considering. This similar experience is now made possible in the metaverse, where consumers can browse and try on items in a realistic 3D environment.

What is the metaverse?

The metaverse is a virtual world that allows users to interact with digital content in a realistic way. For example, users would be able to shop in virtual stores, try on clothes, and even participate in interactive experiences with others.

There are already a few examples of businesses operating in the metaverse, and it is clear that this is just the beginning. One of the most prominent case studies is the collaboration between Nike and Roblox to create the virtual world NIKELAND.

Is Nike the global leader in the future of the metaverse

NIKELAND is a collaborative world that offers exclusive Nike products, events, and experiences. Users can compete in free sporting events and collect branded products to dress up their avatars. At its peak, over seven million users were active in this virtual world, according to Nike. Famous celebrities like LeBron James also made an appearance on the platform, socialising and playing games with the fans within NIKELAND.

This trial platform showed the world one major thing – there is an opportunity for retail commerce within the metaverse. Nike proved that they could not only sell their brand and lifestyle in the real world but on a digital platform like Roblox as well, demonstrating how the real and digital worlds can be aligned for business opportunities.

With such an incredible successful launch of NIKELAND, one can only imagine what the future of the metaverse is and the type of business opportunities available on a virtual platform. In fact, many companies are already starting to develop strategies in preparation for when the technology becomes mainstream and readily available to society.

How to find good business opportunities in the metaverse

The metaverse is a rapidly evolving online space that offers a wealth of opportunities for all types of businesses. Here are three tips to help you get started in this virtual reality world:

1. Understand the different types of businesses

It's first important to understand the different types of businesses that are operating in the metaverse. For example, companies that provide virtual goods or services, such as avatar customisation or 3D design services, are well-positioned to capitalise on the growth of the metaverse. Businesses that are able to tap into the power of social media and gaming platforms to reach new customers can also find success in this rapidly growing digital economy.

2. Connect with other companies

It's also important to connect with others in the metaverse. Many businesses are open to partnering with or investing in other companies, just like Nike and Roblox. By establishing these connections, you'll be able to better understand the landscape and identify potential opportunities.

3. Stay on top of trends

Other than understanding and connecting with businesses, it's also worth keeping an eye on emerging trends in the metaverse and staying up-to-date on what's new. Nobody can accurately predict how the metaverse will work in future, so we simply have to wait and observe how the bigger tech companies continue their technology advancements to expand the metaverse.

The metaverse in New Zealand

With blockchain technology improving by leaps and bounds, some New Zealanders believe that the metaverse will eventually replace e-commerce entirely. Meanwhile, others feel that it will simply become another platform for shopping alongside traditional stores and online websites. Regardless of how it unfolds, there's no doubt that the metaverse is the next big thing in e-commerce.

Companies in New Zealand have already started to embrace the metaverse, with organisations setting up virtual reality and augmented reality experiences for people to enjoy. One example of this is the Antarctic Heritage Trust collaborating with Staples to create an Antarctic hut experience for New Zealanders. In addition to this, a couple in Auckland created the country’s first immersive virtual reality experience called Many Worlds VR, providing its users with an immersive game experience that shows the potential of the metaverse.

Stay ahead of the competition with DHL Express

Besides NIKELAND, many metaverse platforms and experiences are leisure-related, with consumers enjoying the feeling of being within the game that they are playing. However, as technology develops, we anticipate many more real-world activities shifting over to the metaverse. NIKELAND has already shown how effective an immersive experience can be in expanding your brand and generating sales volume, so it is expected that other organisations follow suit in time.

As shopping becomes increasingly popular both on the internet and metaverse, it is vital to boost your e-commerce sales using cloud computing, improve the user experience on your e-commerce site, and offer a better delivery experience through quick and efficient processes. Work with a reliable delivery partner like DHL Express so you can get your products to their destinations locally and internationally without any delays. Open a DHL Express business account and take advantage of our strong network of drivers and distribution centers today.