How is the rise of the Metaverse transforming eCommerce?

A metaverse is a virtual world rapidly gaining popularity among internet users. Here people can connect with others as in the physical world. 

Microsoft CEO Satya Nadella says that the metaverse is here, and it’s not only transforming how we see the world but how we participate in it – from the factory floor to the meeting room.

This trend will affect companies as it will lead to a fundamental shift in how people buy online, while some believe this will only provide a new platform for existing business models. 

The article will explore how the eCommerce Metaverse is going to affect businesses.

The state of eCommerce metaverse

We live in an era where it is possible to receive goods within one day of delivery through eCommerce  platforms. 

Imagine feeling the products without going to the store in just one click. Sounds interesting, right? eCommerce Metaverse will make that happen. 

How is the rise of the Metaverse transforming eCommerce ?

Even though it is in the initial stages, it has already started impacting various businesses worldwide. The current state of E-commerce comes with a lot of challenges:

• Increased product returns
• Lack of product feel
• Low trust in digital payments
• Privacy issues
• A higher number of frauds.

From Blockchain to NFT to Social Commerce to Virtual Reality and Augmented Reality, this trend will solve current platforms' challenges. 

Currently, even the Metaverse comes with certain limitations. As specific devices like AR goggles, VR headsets, etc., are required, only a tiny group of people can benefit. It is predicted that more people will gradually start using technology and buying goods and services from virtual stores.

How can Metaverse transform eCommerce  businesses?

Setting up a store in the Metaverse is an exciting and innovative way to transform your eCommerce  business. More famous brands are getting interesting to know how to create a store in the metaverse. Here’s what eCommerce Metaverse has to offer for your business.

Immersive shopping experience

A virtual store allows customers to browse and shop for products similar to the physical one. 

The features include the ability to experience the effects like trying out a dress, sunglasses, etc., using augmented reality. This helps the customers to feel the product and provide a great shopping experience. 

With its potential to revolutionize the way eCommerce businesses operate, Metaverse grocery shopping could be the next big thing in the industry. Grocery shopping in metaverse is an online service that allows consumers to shop for groceries and other items in an immersive 3D virtual world. 

Another advantage is that the user can handle and buy the product in any part of the world with access to the internet and metaverse technology.

Virtual marketplace

It is a platform that allows you to buy and sell goods and services online using avatars, which are visual representations of ourselves. The company will sell products in the metaverse and deliver the items purchased in the store to the customer effortlessly. 

Take the example of a fashion brand, Gucci; the brand has purchased an undisclosed amount of land on The Sandbox, which lets people and brands buy and develop virtual real estate. 

Even though the concept of a virtual marketplace is in development, this has the potential to transform the eCommerce  industry.

Personalization & customization

Businesses could customize the goods and the virtual store according to the visitor's taste. 

There will be access to different products, and the customers will understand how the product works and feels. This helps in making informed product purchases and reduces returns and complaints. 

Through real-time data and machine learning algorithms, the user can receive product and service recommendations based on purchase history and browsing behavior.

Virtual community

A strong community enhances social proof driving more customers into the virtual community. The company can share updates related to the goods & services. 

The new products in the market can be tested with the community before their official release, which helps understand the target audience better, leading to product innovations. 

Businesses can host events in the virtual world and share exclusive gifts with loyal customers. This helps build a long-term relationship and create raving fans for your brand.

Reach global audience

The limitation of physical shops is that customers must visit the store to buy the products. This can be solved using the Metaverse. 

When a business creates a virtual storefront similar to the physical one, the visitors will get access to check your products and services at the global level. 

Another way is to host virtual events or experiences. 

For example, a fashion-based eCommerce  brand could conduct a fashion show where people attend the event. This also helps in strategically positioning the brand's products. Businesses can rope in more customers through such growth tactics.

Improved customer service

With eCommerce in the Metaverse, customers can interact with products and virtual customer service agents.

Some people will have some queries regarding the products and services; this feature can become a savior to solve their doubts. This helps provide better customer loyalty by delivering an immersive experience. 

Businesses can drastically reduce the need to hire people for customer service as these support agents will be able to work 24X7 and serve the user effectively.

A new stream of revenue

Companies can capitalize on the metaverse trend by selling products in the metaverse, e.g virtual goods and services like clothing, accessories, furniture, etc., to upgrade their digital avatars and environment. 

The eCommerce  brand can host concerts or events in the virtual world and sell tickets within the community. 

They can also sell real-world physical goods related to the metaverse characters with the help of eCommerce Metaverse. This lucrative area will increase business sales and drive growth to the next level.

Future of eCommerce Metaverse: Is It the Next Big Thing?

Drupal contains many features and tools often used to build and manage eCommerce  websites. 

Some companies using Drupal to build their online stores may also have a presence in the Metaverse, perhaps via virtual reality experiences or other virtual engagement methods.

With the advancement in  Virtual Reality (VR) and  Augmented Reality (AR), the trend of "Experience and buy" products will skyrocket shortly. 

Blockchain technology will enable a decentralized digital platform to purchase products confidently. This is an efficient way to perform digital payments and prevents fraud and data theft. 

Businesses will be able to track customer behavior and suggest personalized products to increase the likelihood of purchasing.

Conclusion

The future of eCommerce Metaverse looks promising as it is designed to help both the company and the customers. As more people are interested in the virtual world, how we shop and interact with brands is likely to be affected. 

Some businesses may need help to adopt this new technology, while some succeed. You will need a robust eCommerce  website to integrate the features of metaverse technology.

At our eCommerce Development Company, LN Webworks, we can build a website using Drupal that is also compatible with Metaverse.

Our skilled  Drupal eCommerce developers can provide Drupal consulting to carefully understand your needs and provide a practical solution for your eCommerce  website.

Contact us to learn more about our services.