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TheĀ Future of Marketing Institute is the premier global forum on teaching, research, and outreach on future of marketing topics.

How Will the Metaverse Revolutionize Immersive Customer Experiences?

June 27, 2022 By: FMI Staff

We could see the metaverse undergoing considerable growth in the next few years. Predictions have the metaverse reaching $800B by 2024, and Gartner suggests that 25% of people will spend at least an hour a day in this digital world by 2026. Nowadays, shopping isn’t exciting enough for consumers. They want to be sold products in more compelling, interactive ways, and the metaverse is the perfect way for companies to satisfy this need.

In her recent article for Learning Experience Alliance, Sarah O’Neil discusses customer experiences in the metaverse. First, she defines the metaverse as a digital space similar to the internet. Its defining feature is tangibility. Here, users can interact with the world and each other through digital avatars. Next, O’Neil details the customer experience opportunities in this new world: deeper levels of personalization, gamification, more brand-specific content, innovative “try before you buy” experiences, and better post-purchase customer service and support. One brand already using the metaverse for customer experience is Gucci. In 2021, they released “Gucci Garden,” a two-week art installation on Roblox, to build brand awareness among younger users.

Yet, brands must remain cautious when exploring this creative space. They should understand that the metaverse comes with risks and costs, namely, the expenses needed for AI, augmented and virtual reality machines, and other metaverse technology. Despite these drawbacks, the future of customer experience is clearly in the metaverse, and it’s only a matter of time before more brands enter this digital world.

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