Pinko opens first virtual store modeled after exclusive Milan boutique

What it means: As virtual store format usage rises across retail, individual brands are working to create metaverse stores and experiences that align with their brand value and positioning with their consumers. A virtual store needs to stand as an extension of the physical brand presence and not disrupt current operations while providing an increased value beyond what retailers currently offer consumers. Additionally, the virtual experience needs to solve problems for consumers or provide a new and elevated experience. Late last year, women’s fashion brand Pinko opened a new Milan-store housed in the Galleria Vitrorio Emanuele II, Italy’s oldest active shopping mall. In juxtaposition to opening a store in the landmark shopping gallery, this month Pinko launched its first-ever virtual store to expand the Milan store’s reach. Pinko wants to “give the special Galleria experience to all who can’t head to the store in person,” Silvia Granelli, with Pinko’s marketplace operations, told Retail Leader Pro. Pinko sought to “amaze and expand the customers’ shopping horizon” in the virtual store, Granelli said. Pinko also aims to keep up with the digital evolution, she explains, and the metaverse experience contains an exclusive capsule collection and a unique non-fungible tokens (NFT) offering — the brand’s Meta Love Bags, which Pinko first introduced in November. During a recent Store Brands webinar, Doug Baker, FMI’s vice president of industry relations, spoke about metaverse’s growing role in e-commerce. While the food industry is not wholeheartedly ready to enter the metaverse, retailers at FMI’s January Midwinter Conference were encouraged to think about connected commerce, he said. “No matter where that consumer is in their shopper journey — how they're selecting, purchasing and securing their goods — is that they're constantly connected with that journey with that retailer,” Baker said. “If [consumers] move from online to in-store, it's not disjointed. If they move from online to pick up the delivery, it's not just disjointed. And then any other digital media that the retailer might have that it remains very seamless and very connected to give that customer a full experience.” Seamless experience The store was developed using Emperia’s metaverse platform and offers customers a personalized, immersive experience. Integrating frictionless purchasing was important to Pinko when creating the consumer experience. “Pinko's virtual store is fully integrated into the retailer's e-commerce system, ensuring that both prices and stock are up-to-date, which simplifies the management of the virtual store and streamlines the user experience, as shoppers are able to easily browse between the company's online properties and add products into the same shopping cart, in a truly cohesive omnichannel manner,” Gil Regev, Emperia’s chief marketing officer, told Retail Leader Pro. “The virtual store can be easily updated, in décor, products and pricing through Emperia's own virtual store management platform.” As consumers increasingly desire personalized shopping experiences, Pinko felt it was important to add a personalization element to its virtual store. For example, the NFTs grant buyers access to an exclusive Pinko community, early access to future NFT drops and other rewards. “We've been seeing a growing demand for personalization of spaces, most of which is driven by consumers' demand for a unique experience which reflects their own individual taste, wants and needs,” Regev said. “Leveraging user data, virtual stores can now provide an added layer of personalization, one that reflects user preferences and shopping habits, making the shopping experience into a completely different one to that offered by physical stores; making for a dynamic, fun experience that caters to the individual user.” Traversing from physical to digital, the virtual store is designed in a vibrant pink with a futuristic setting, highlighting a collection of new exclusive-to-the-virtual-store handbags. Consumers can learn about the handbags and interact with them using 3D modeling. Consumers can purchase handbags directly in the virtual store or from the Milan store. Pinko’s new virtual store as an extension of the new Milan brick-and-mortar aims to drive brand recognition and “tap into new female communities” while “supporting women who wish to express their femininity,” the retailer said. Founded in 1980, Pinko offers daring and contemporary collections designed and fitted in Italy, the retailer said. Today, Pinko’s 250 single brand stores are located globally in exclusive settings, such as the Galleria Vitrorio Emanuele II, in addition to around 1,500 wholesale sales outlets, online and in its new virtual store. What’s next: As retailers and brands plan for future virtual store concepts, thinking about how virtual stores come to life by retail sector is important. Virtual stores in grocery might focus on product education, recipe creation and cooking demonstrations to entice consumers. Drug store chains could lean into trends in wellness and beauty to connect with shoppers in a virtual setting.

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