Virtual Reality
September 12, 2022 at 1:03 pm
With an estimated market value of more than $1 trillion in yearly revenue, the metaverse is quickly emerging as a significant opportunity for brands to engage customers and create a community of loyal advocates. While it provides a wealth of marketing opportunities, the metaverse — a set of interconnected virtual reality (VR) worlds where people…
August 23, 2022 at 7:51 pm
It may sound futuristic and ahead of its time, but the metaverse is set to transform the way we connect, discover, shop and buy. In fact, the advent of shared virtual spaces could be as significant for commerce as the rise of social media was over a decade ago. It’s true that some retailers and…
August 3, 2022 at 11:57 am
Ulta Beauty has become the latest retailer to launch a venture capital arm after announcing a new digital innovation fund Wednesday. The fund, called Prisma Ventures, earmarks $20 million for digital innovation in beauty, according to a company press release. The fund will invest in emerging technology startups that "seek to shape future online and in-store…
June 23, 2022 at 9:08 pm
In this episode of Retail Right Now, Total Retail's Marie Albiges and Devon Russell discuss an article recently published by Total Retail titled, “How Retailers Can Use NFTs to Give Customers a Unique Shopping Experience,” authored by Angelo Coletta, founder and CEO of Zakeke. The article shares several ways that retailers can use NFTs (non-fungible…
June 21, 2022 at 8:56 pm
Lowe’s is offering customers a chance to use metaverse assets to help visualize building projects. The home improvement retailer is making 500 assets available for free on its own metaverse hub. Lowe's is the first major home improvement retailer to enter the metaverse and make its applicable assets available for free, with the company monitoring consumer…
June 20, 2022 at 3:59 pm
The NFT (non-fungible token) phenomenon has hit nearly every industry. For retailers, NFTs can be a unique offering that helps build customer loyalty and boost sales. But what are they, and how can retailers effectively use them to build brand affinity? NFTs are digital tokens for virtual items, and its key differentiator from other virtual…
June 14, 2022 at 10:26 am
The metaverse has captivated notable brands and technology innovators alike because it provides abundant opportunities for new revenue streams and represents a way for consumers to connect with retail stores without even setting foot inside. Many brands believe it's inevitable, and none are willing to be the ones that miss out. But are we overlooking…
June 8, 2022 at 3:29 pm
Visitors to the metaverse can now shop for Barbie apparel, sleepwear, swimwear, accessories and home décor inspired by the Barbie DreamHouse in Forever 21's virtual shop, the companies announced Tuesday. The 2022 limited-edition collection will be available in Forever 21 Shop City on Roblox, as well as online and in-store. The metaverse store was created in…
June 7, 2022 at 7:57 pm
Within a decade, we will see tremendous shifts to the way in which consumers perceive and interact with the world around us. The imminent upsurge in the extended reality (XR) market is upon us, and what our day-to-day realities will look like by 2030 is up to the collective ability of our imaginations. Yet the…
May 25, 2022 at 12:02 pm
While unusual to many consumers, the Metaverse Fashion Week, known as Decentraland, offered a glimpse into the future. For retail, the metaverse presents the optimal middle ground between the ease and convenience of online shopping and the immersive and tangible enjoyment of physical shopping. The metaverse can be seen as a third layer, a new market or…
