E-commerce in the Metaverse

The metaverse is a digital environment that mimics reality (or is an alternative version of it), where one can meet avatars of other people, but also visit locations. Users can immerse themselves in a virtual 3D world thanks to VR goggles and special controllers. This technology is increasingly used not only in video games, but also in the e-commerce industry. We explain what this dependence is all about!


How is e-commerce using the metaverse?

According to a recent McKinsey report, the Metaverse could reach $5 trillion by 2030. A very interesting observation, however, is that the biggest economic force of this virtual world, despite appearances, is not games ($125 billion), advertising ($206 billion) or science ($270 billion), but e-commerce ($2.6 trillion).

Major brands see the potential of the digital meta-world and are trying to make the most of it. Virtual tools where one can view a product in detail before buying have already become popular. On top of that, sales of products that exist exclusively in the digital environment are expanding. Nike’s first fully virtual store, opened in 2021 in the metaverse game Roblox, was visited by more than 7 million people.


Is the metaverse the future of e-commerce?

The e-commerce industry is winning over traditional commerce in many ways, but it also has its weaknesses. One of the biggest problems is the lack of interaction with the seller. Although AI chatbots acting as intelligent assistants are already emerging, they are still quite impersonal. Being able to see a product in the metaverse and talk about it with an avatar of the attendant increases trust in the brand, and enhances the shopping experience.

Young generations are increasingly concerned with their image not only in the real world, but also in the virtual world. Shopping for digital clothes and gadgets is likely to become increasingly popular. The metaverse thus brings many opportunities for the e-commerce industry. Time will tell which ones will actually be exploited.