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There are nearly 8 billion people in the world. Yes, crazy. And more than a quarter of them are active online shoppers. Ecommerce sales are about to hit $6.5 trillion<\/a> within a year.<\/p>\n What once was the future has finally become present. All of you reading this probably buy everything from groceries to garments on a regular basis. But we\u2019re just people.<\/p>\n We\u2019re always looking for the next big thing. Both as shoppers and investors. So what\u2019s next for retail?<\/p>\n You\u2019ve read the title, so you know the answer.<\/p>\n The Metaverse<\/a>. A virtual, immersive world. It gives you an experience similar to the one you have with your smartphone. However, it\u2019s far more advanced.<\/p>\n It\u2019s in 3D, so it\u2019s much more absorbing and realistic. You can actually see and interact with different things within this world.<\/p>\n The concept is still too futuristic and new for some. For now, only 16 in 100 people<\/a> fully understand what the Metaverse is.<\/p>\n But brands are now experimenting with it<\/a>.<\/p>\n Some of the largest brands on the globe have used early Metaverse technology<\/a> to develop more awareness, increase engagement, and learn in the process. D&G, Gucci, and Nike are just some of the brands that have used NFTs, virtual concerts<\/a>, and VR to enhance their online presence<\/a>.<\/p>\n And it makes sense why.<\/p>\n Augmented reality headsets can give consumers unique, one-to-one interactions with brands and products. Around 73% of consumers<\/a> are willing to spend more money on a brand if they establish a genuine connection with it.<\/p>\n Let\u2019s backtrack a little bit, and ask ourselves, will the Metaverse have a practical use or is it just a gimmick? We\u2019ve seen a ton of new technologies come and go. All of them looked promising. However, they couldn\u2019t deliver.<\/p>\n Is the Metaverse any different?<\/p>\nWhat Has Metaverse Done for Retail So Far<\/h3>\n
Shortcomings of Online Shopping<\/h3>\n