Ecommerce and physical retail have dominated the buying and selling landscape for years. It seemed as if companies were only concerned with selling in person or online. However, the metaverse has shed light on new types of commerce that allow brands to transcend the traditional eCommerce and physical retail models.
In a recent article for Forbes, Cathy Hackl, Chief Metaverse Officer & Co-Founder of Journey, discusses up-and-coming commerce models. According to Hackl, these new models require delicacy, value creation, and community. She touches on topics like the human side of commerce, preparation necessities for the metaverse, NFTs, virtual markets, virtual-to-physical (V2P) and physical-to-virtual (P2V) models. V2P and P2V are essential subjects, representing the movement of consumers from Physical-to-Physical, Digital-to-Physical, and Virtual-to-Virtual, to never-before-seen buying and selling methods. V2P involves purchasing on a virtual-first marketplace or a gaming experience, where the product may have a mix of virtual and physical benefits. P2V concerns purchasing a physical item or experience that “unlocks” a virtual component.
At the article’s end, Hackl presents marketers with a choice: stay entrenched in the traditional paradigms and strategies of consumer purchasing, shopper marketing, and customer experience or welcome the new virtual spaces and journeys that the metaverse presents.