While the pandemic has undeniably led to an unprecedented boom in e-commerce, that doesn't mean that in-store shopping has disappeared. As consumers mix channels, the metaverse is emerging as the solution to get a little closer to the perfect phygital experience...
Shopping habits continue to be fundamentally driven by omnichannel shopping, with consumers mixing all the consumption channels at their disposal.
This combination of online and in-store shopping presents major logistical challenges for retailers, who must be able to eliminate all friction in the shopping process and offer their customers a smooth, fast and seamless experience, regardless of the channel they choose.
Is the metaverse an ideal answer to these challenges? This new environment, which blurs the boundaries between the real and the virtual, seems to allow brands to offer consumers a phygital experience that places them at the center of the entire process and gives them access to the benefits of both worlds.
Omnichannel is no longer an option
According to an IBM study conducted in collaboration with the U.S. National Retail Federation, 4 in 10 Millennials don't feel the need to visit physical stores again, and 15 percent of Americans enjoy shopping in stores less than they did before the pandemic. However, a large majority of consumers still prefer to shop physically.
What is certain is that the Covid-19 pandemic has led to changes in consumer behavior - and more importantly, expectations. The relationship between physical and digital commerce must be as seamless as possible: convenience, speed, flexibility and control of orders have become key factors.
To meet these needs and offer their customers an optimized omnichannel experience, companies in the retail sector have been engaged for several years in a profound transformation of their systems, especially to optimize and automate their logistics processes ever more efficiently.
The next step: entering the metaverse.
The metaverse is not just a buzzword, but one of the most promising emerging ecosystems for the retail industry. According to Gartner, by 2026, 25% of people will spend at least an hour a day in the metaverse for work, study, entertainment and, of course, shopping. Furthermore, according to a Kantar study conducted in the United States in December 2021, one third of American consumers say they are interested in buying real or virtual products in metaverse environments designed by brands.
Aware of this, brands are already moving towards new business models that adapt e-commerce to this environment in order to offer their customers the best possible shopping experience, whether they are buying digital items to be consumed exclusively in the metaverse, or physical products that they will receive at home or pick up in store. Gucci has already started selling its own virtual clothes with Gucci Virtual 25 sneakers, and H & M recently launched its first virtual collection through Nintendo's social simulation game Animal Crossing.
The goal, ultimately, is for the consumer to have access to the same options, conditions and possibilities, regardless of the channel through which they buy.
This is the definition of the phygital experience. The secret? Combining all the pieces that are part of the shopping process - from the supply chain to the point of sale - to offer customers the best of both worlds: transparency, security, agility in purchasing and returns, speed and flexibility in delivery and collection, etc.
It is, however, important to never forget the human side. The return to physical stores, after the long periods of confinement, was motivated in particular by the need of consumers to regain contact with the salespeople and employees present in the points of sale. If immediacy, flexibility and personalization are key in omnichannel commerce, the human aspect and the quality of the customer relationship must not be neglected - and will have to be considered even more in the metaverse.
Comments