The Metaverse: Retail’s New Revenue Stream
Pro Tip: With the metaverse set to disrupt the retail industry, brands and retailers cannot delay in creating innovative strategies for both virtual and physical products to delight consumers — no matter where those transactions take place, whether in the digital realm, IRL or somewhere in between.
In a recent article, Retail Leader Pro has laid out the foundation of how retailers should think about defining the metaverse. Here, we delve into the various possibilities that the metaverse offers for retailers as an emerging commerce channel ripe for innovative ideas.
Do Retailers Really Need to be in the Metaverse?
By 2026, 25% of people will spend at least 1 hour a day in the metaverse for work, shopping, education, social and/or entertainment, according to Gartner Inc. Globally, by 2026 ReportLinker believes the metaverse market will reach $758.6 billion — offering a sizable chunk of consumer attention up for grabs for retailers and brands.
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