Metaverse is not just games anymore; fully virtualized shopping experiences are on the cusp of becoming a reality. Users of the Metaverse will soon be able to shop for clothing, shoes, accessories, and more, try it on, make a purchase, and receive a physical copy of the item from wearing in the real world.
With a total of $3.1 million in sales, NFT marketplace RTFKT sold 600 pairs of digital sneakers in just seven minutes in February 2021. Later that year, in June, a Gucci bag that didn’t exist in the real world sold for more than $4,000 on Roblox. The demand for eye-catching garments that can be flaunted in the Metaverse has increased, and various NFT marketplaces are now selling rare digital clothes from designers like Balenciaga, Jimmy Choo, and Dolce & Gabbana.
Brands in Metaverse are likely to mirror those in the real world because players will want to accessorize their avatars and use clothing to display their social status.
For instance, Morgan Stanley recently predicted that the virtual fashion industry could be worth more than $55 billion by 2030. And we need to peep only a little into the crystal ball to know if the trend of metaverse clothing will catch on. As you are about to learn, several companies have already released collections exclusively in the Metaverse and are making millions from fashion NFTs.
Curious to know the meta activities of fashion houses. Okay, then, let’s find out.
My name is Almira Lopez; I act like a CMO and think like a boss. I’m a Metaverse marketing strategist, and this is the best place for you to learn about Metaverse and how to market it all. So if that sounds good to you, you’re excited?
So, let’s get started!
Retailers Brands Leveraging The Metaverse
More and more businesses are investing in real estate in the Metaverse to open shop there. Adidas, Burberry, Gucci, Tommy Hilfiger, Nike, Samsung, Louis Vuitton, and even HSBC and JP Morgan are among these companies.
The concept behind these stores is that your avatar can visit a virtual version of the store and purchase items that will then be shipped to you in the real world. You could buy your avatar a new piece of virtual clothing.
1. Gucci – Top Retailer Entered The Metaverse
One of the first companies to take advantage of the Metaverse, Gucci has launched several projects that have taken the Italian luxury label to new heights in high fashion.
Gucci and Roblox, one of the most popular online game platforms, teamed up in 2021 to showcase Gucci accessories like bags, hats, and sunglasses in the form of avatars. The Gucci Garden event lasted two weeks, during which collectors and gamers alike could purchase limited-edition Gucci wares. In doing so, it demonstrated the breadth and depth of the Metaverse and its impact across sectors.
2. Louis Vuitton – Retailers in Metaverse
Louis Vuitton, like Gucci, is very interested in and accepting of the Metaverse. The launch of Louis the Game, a mobile game commemorating the 200th anniversary of the founder of this company, is the single most significant event that has inspired us to write about this subject. You may be wondering what role the Metaverse plays here.
This is different from your average mobile game. It follows Vivienne, the brains behind Louis Vuitton, through 30 NFTs of his journey. These tokens aren’t for sale but are a vital part of the game’s collection. Beeple, widely considered among the NFT industry’s top artists, was instrumental in the company’s inception. It features a $69.3 million art installation, proving that the fashion industry has made a significant financial commitment to the virtual world.
Louis Vuitton, or LV as it is more commonly known, is one of the few brands widely believed to be on the cusp of a marketing revolution that will shake up the Metaverse.
Also Read: Top 10 Food Brands in The Metaverse – Restaurants in Metaverse
3. Nike – US Shopping Brands in Metaverse
By signing some of the most famous athletes worldwide and creating some iconic clothing lines, Nike has become the undisputed leader in the sportswear industry and an integral part of American popular culture. The company’s swoosh logo and “Just Do It” tagline have also contributed to its name recognition.
When it comes to the Metaverse, Nike is way out in front. More than once, the company has tested the waters of the Metaverse. Nike’s initial foray into theme parks was called Nikeland. In Roblox’s case, this was a dedicated metaverse environment. Fans could interact with and participate in branded experiences in this setting.
Nike, too, understands the value of its digital possessions. The NFT collectibles startup RTFKT Studios was founded by the company. Nike and RTFKT present shoe collections under the NFT label.
4. Adidas – Shopping Brands in Metaverse
Adidas unveiled its 30,000-piece NFT collection, into The Metaverse, in December 2021. The line was designed in tandem with the Bored Ape Yacht Club, the PUNKS comics artists at pixel vault, and crypto investor Gmoney.
The tokens bridged the digital and physical gap by allowing buyers to acquire the NFTs and the associated physical apparel.
Physical products include tracksuits, hoodies, and Gmoney’s signature orange beanie; the virtual wearables are most prominently usable within The Sandbox, a metaverse-like platform.
Adidas Originals, a sportswear lifestyle brand, has entered the cryptocurrency market with the help of crypto exchange Coinbase to protect all digital assets.
5. Puma – Famous Shopping Brands in Metaverse
Like Nike and Adidas, the German multinational corporation Puma creates athletic wear. Puma may have a different sales level than Nike and Adidas rivals, but its logo and brand recognition are still highly regarded. Like Nike metaverse clothing and Adidas, the company is persistently competing to break into new markets and develop cutting-edge products.
Puma is, therefore, also working on NFT projects. Puma introduced their 3D metaverse website at New York Fashion Week, where they showcased NFT Projects with a Puma theme. Black Station, Puma’s new 3D website, puts the company in a prime position to increase community involvement and tap into the Metaverse’s untapped commercial potential. Puma is expanding its platform independently rather than forming a partnership with an existing virtual world.
Also Read: Virtual Shopping In The Metaverse: What Is It And How Will AI Make It Work
6. Burberry – Top Shopping Brands in Metaverse
In partnership with Mythical Games, the British luxury fashion house launched its first NFT in the game Blankos Block Party. Collectors of physical toys will undoubtedly become engrossed in Blankos, a virtual universe populated by vinyl figurines.
The multiplayer game features a toy store where players can buy and sell NFTs and multiple game modes and levels where they can have fun completing various quests and challenges. Shark B, a figurine of a shark with the TB Summer logo, is Burberry’s limited-edition and limited-quantity non-fantasy trade good in this Mythical Games gaming arena.
Many new NFT accessories are now available at the fashion house and can be used by Shark B or any other Blanko in the game.
This game was included in Esquire’s “top 5 NFT MMO games to check in 2021” list.
7. Tommy Hilfiger – Fashion Brands in Metaverse
American fashion designer and entrepreneur Thomas Jacob Hilfiger created the Tommy Hilfiger brand in 1985. It is a premium clothing retailer and manufacturer dealing in and making clothes, shoes, accessories, perfumes, and even furniture. More than 2,000 of its stores are now located in more than 100 countries. Tommy Hilfiger is a well-known brand that, like other successful businesses, embraces change and new ideas.
It made its initial foray into the Metaverse by collaborating on Nintendo’s upcoming 2020 social simulation game, Animal Crossing: New Horizons. Later, following the lead of other luxury fashion houses like Louis Vuitton and Balenciaga, the company partnered with the widely used gaming platform Roblox to launch a line of virtual clothing for users’ in-game avatars. These come in 3D and 2D, demonstrating the company’s dedication to providing customers with a choice in how they interact with digital content. Thirty easily accessible virtual garments are included in the collection.
Also Read: How to Start eCommerce Business in Metaverse?
8. Ralph Lauren – Retailers Setting Up Brand in Metaverse
Founded in 1985, Ralph Lauren is a fashion house. Accessories for the home, jewelry, and perfumes are also available from the business. The brand Ralph Lauren holds several mid-range and sub-premium brands. In contrast to Boohoo, the brand has been around since 1967, giving it a substantial history. Nonetheless, Ralph Lauren has connected with customers across three generations.
Patrice Louvet, CEO of Ralph Lauren, thinks the company should put money into the Metaverse to maintain its relevance and attract a younger clientele. So, Ralph Lauren is teaming up with Roblox like every other Fast Fashion-Mid Range company. The clothing company released a new Roblox game, Ralph Lauren Winter Escape. The company made collections for both male and female avatars. To diversify its income, the company also offers digital clothing for sale in Zepeto. Success with NFTs and other digital clothing projects in Zepeto and Roblox ensures that they will continue.
How You Can Prepare
There are several things your company can do to position its brand in the Metaverse better as it moves forward:
Think Metaverse First
Prepare for the possibility of incorporating a metaverse activation into your campaign, program, or event by basing it on customization.
Think Fun
As the Metaverse is not constrained by space or time, it is important to avoid simply duplicating the real world in digital experiences. Put your mind to work and dream up activities that would be impossible in the real world. It may be challenging to create the ideal mall location for your “king-“focused retail brand, but in the Metaverse, everyone has access to virtual castles and royal treatment.
Think Socially
Everything from gaming to work to “travelling” between locations will become an opportunity for interaction and self-expression in the Metaverse. As you craft new experiences, consider how you’ll communicate and express yourself carefully.
Follow these guidelines if you want to keep your current users and draw in new ones as the Metaverse grows in popularity. In addition to providing users with useful, secure, and enjoyable ways to participate, these features will boost your chances of creating a successful metaverse business in areas outside of gaming.
Conclusion
The Metaverse aims to provide a memorable experience for paying customers. There are ways for brands to open themselves up to a future in the Metaverse.
Before diving into the Metaverse, businesses should determine their objectives and be open to experimentation to find the best metaverse marketing strategy. Initially, a company should begin on a small scale to gauge customer response and make necessary adjustments.
Businesses should think about how to reach their customers in the Metaverse. If making more money is priority number one, stock the online store with products identical to those sold in physical locations. Develop a bridge between the two to give people the best of both worlds, digital and physical. But before you dive into a metaverse platform, make sure you know who you’re dealing with.
