Retailers in the metaverse

Deloitte’s experts have studied what can influence the expansion of retail trade in the metaverse. At the moment there are several factors that hinder the large-scale use of the metaverse, such as accessibility, trust, user experience and the compatibility of different platforms. According to István Fazekas, technology and telecommunication consultant with Deloitte Magyarország, most consumers don’t have full access to the necessary technologies and services, plus today the virtual world might seem rudimentary and caricature-like – many people can lose their interest in the metaverse because of these.

Despite these challenges, some retailers have already developed new business models for the metaverse. In this new world they need to focus not only on possible ways of selling, but also on how to do this in a differentiated fashion. One of the most exciting aspects of the metaverse is that it was designed to cover every field of our lives, thus firms don’t necessarily have to modify their fundamental strategies, instead of this they should push their limits, hand in hand with the opportunities offered by the metaverse. //

This article is available for reading in Trade magazin 2023.2-3.