Metaverse Malls and Rise of Virtual Shopping

By juegoadmin | Metaverse Development | April 5th, 2022

Metaverse Malls and the Rise of Virtual Shopping

The global pandemic has changed many facets of our lives, one of them is the way we use the internet and the amount of time we spend online. The use of augmented and virtual reality gadgets has substantially grown, and this has resulted in an inclination toward the virtual world.

Metaverse

The so-called ‘Metaverse’ is a digital space where people can play games, work, learn, shop from home, and socialize. The Metaverse is still in the initial stages of development but its future looks promising. Use of artificial intelligence can help in processing huge amounts of data to make data analysis and pattern analysis possible in a short time.

Transition to Virtual Shopping

The transition to metaverse virtual shopping has already started, largely due to the opportunity created by the Covid pandemic. E-commerce saw a whopping growth of 18% in the year 2021. And this growth trend has inspired many organizations to increase their e-commerce business by up to 40%. Many companies have invested huge sums to buy land in the metaverse world for shopping malls or other constructions. Your avatar can roam around in these virtual worlds freely; shop, eat, socialize, and do much more. The reason companies are investing huge money is because of space. This virtual space will have a place for people to meet, come together and organize virtual concerts, fashion shows, and find new products or services. And when there is a crowd, you sell your brand and invest as much as you can.

The Rise of the Metaverse Malls has Been Made Possible Because of the Following Factors:

1. Beyond Metaverse Virtual Shopping

Many retail brands have shown interest in metaverse malls as it offers interactive and intuitive shopping experience. The use of technologies like AI gives us an edge as we can analyze consumer shopping patterns and behavior easily. Shopping is not merely about purchasing commodities or services. It has more to do with experience.

2. Different Possibilities

As we know most of us go to malls mostly to browse and that is a very basic human emotion. A shopping experience coupled with an element of entertainment can certainly enhance the overall shopping experience. Options like spinning a wheel, throwing a dart, or picking a slip to get a discount in the store or some gifts are intuitive ideas. And these interactive shopping engagements make customers happy. Futuristic technologies like AI enables us to analyze and track consumer profiles and make custom recommendations based on their taste. Shoppers can walk around virtual stores, use a 3D trial room, and check their outfits in a 360-degree view. Customers will be able to try accessories, take beauty consultations, buy a car, or even land.

The metaverse mall would be a natural fit for the entertainment and gaming industry. Traditional malls will stay. But metaverse mall is the future as it attracts new-age customers who want to invest in non-fungible tokens

3. AI Avatars and Social Engagement

Artificial intelligence-powered avatars represent you in the virtual world. AI enables the replication of real-world human features, expressions, and movements. This will make the shopping experience in a metaverse mall exciting. The best thing about avatars is, we can customize the appearance, be it haircut, clothing or shoes to make the digital avatar look like the owner. You can purchase accessories, clothes, shoes for your digital avatar to represent your image. This will open the window for shopping for the digital avatar. Some brands offer clothes, shoes, and accessories for the avatars in the metaverse.

4. Unified Experience

Moreover, with a digital avatar you not just enjoy digital shopping with friends, but you can interact with sales executives who can assist you in the virtual store. This emerging digital space will enable you to move between various metaverse malls and offer a unified experience. In the real world, we walk around a mall and shop with friends and interact with sales executives in person. Metaverse mall experience eventually will become more social, natural, and intuitive with the help of futuristic technologies. Avatars will be able to see and communicate with each other and provide real-time advice and assistance. With this social shopping feature, we can decide the participants who will join us in the virtual store for shopping and interact with sales executives via avatars or video calls.

5. Virtual Wardrobe

With the help of AI technology virtual wardrobe is going to gain popularity. There is already a growing interest in virtual clothes. A virtual wardrobe will allow you to place your existing clothes and let you buy custom new clothes. Here AI will analyze your unique shopping traits and habits based on historical data and will make unique style recommendations. As artificial intelligence evolves further, you would see outfit generator applications. This would act as a new place for fashion enthusiasts to explore. AI algorithms will generate all new fashion trends by making exclusive digital outfits. Metaverse malls will see numerous such fashion stores in the future. Metaverse malls will open new opportunities with the help of artificial intelligence and other advanced technologies. And this will make shopping in a metaverse mall far more engaging and interesting.

6. Immersive AR and VR Experience

Multiplayer video gaming and online shopping gained immediate popularity. This prompted various brands to create digital assets ranging from fashion to consumer goods. These assets can be sold along with real-world products or completely through the virtual world. AR and VR gadgets will be used to enter the metaverse mall. Your avatar will be your virtual world identity. You can communicate with others in real-time and convert your metaverse virtual shopping experience into 3D. These days use of VR headsets is not skewed towards males; numerous female subscribers use VR headsets for an immersive online virtual experience. Though VR or AR is not a mandatory feature for you to experience the metaverse. But it adds a different dimension and makes your metaverse virtual shopping experience immersive and exciting.

Conclusion

Many companies are developing virtual worlds on their websites. Soon they will join the metaverse platform in the future. Experiments with metaverse initiatives are already in progress. Metaverse malls as we learned have seen growth in metaverse virtual shopping. If you want to learn about the latest trends in the gaming field or breakthroughs in technology, head to the website of Juego Studios. If you are a startup and looking for a metaverse development company and AR/VR solutions, we at Juego Studio can help you with innovative solutions. We are an award-winning game development company and have many satisfied clients. Browse through our website to know more about our services.