Advances in technology are blazing a trail to a strange, new world – the Metaverse. In this digital diorama, the disconnect between businesses and customers reveals challenges but also untapped opportunities.
With big-name players like Meta, Nike, and Epic Games taking center stage, how can regular stores meet the demand of this emerging customer hub? Global eCommerce giant, Shopify shares that “Merchants who add 3D content to their stores see a 94% conversion lift, on average.”
That’s a great place to start. And the foundation upon which to build in the Metaverse.
Many believe that the Metaverse is the next iteration of the internet. Yet others envision it as so much more. A 3D and AR channel that opens up a new realm of possibilities and complements the real world.
The take from Mark Zuckerberg and Meta is that: “Metaverse isn't a thing a company builds. It's the next chapter of the internet overall.” Yet, Jensen Huang, CEO of Nvidia declares that the “Omniverse or the Metaverse is going to be a new economy that is larger than our current economy.”
There’s a lot to unpack in that statement. But essentially, these visionaries are suggesting that the Metaverse will create a new virtual economy. One with rich, immersive experiences that deepen digital connections. For eCommerce, the benefits will definitely include deepening customer relationships but also drawing in new customers.
As Forrester expects “total US retail sales to reach $5.5 trillion and US online retail sales to reach $1.6 trillion” by 2027, retailers need to grab their slice of the pie in this digital-first market.
Epic Games are already pioneers in immersive gaming technology. Their 3D visualization, AR, and VR capabilities (with Fortnite and their Unreal Engine) are clearly the building blocks of the Metaverse.
However, Nike, and Forever21, are both leading the commerce charge into this space. They’ve already created virtual stores to open up new revenue streams.
In the technology arena, NVIDIA’s 3D simulation is making bold strides into the Metaverse with Omniverse – a “new era of 3D Design Collaboration and World Simulation.”
Smart eCommerce brands can also ride this 3D visualization wave. But they need to consider how they’ll modernize and scale up customer personalization.
Commerce brands that are reluctant to brave the Metaverse could miss out on sales. Though the concept of this virtual world could seem out of reach, their next step is not complex. Their offerings must be immersive to engage a new breed of customers. And that means a growing need for more 3D representations.
This increasingly visual commerce style will personalize the user experience on a whole new level. “In a world where virtual selling environments will eventually become the norm, the metaverse will allow businesses to put their customers first by providing personalized engagement,” CMSwire shares. And as a result, they continue, will “enable customers to take the reins on their own buying experience from anywhere at any time.”
To establish a presence in this complementary, virtual world, retailers must be able to produce 3D commerce models of items. And launch them on a large scale. So, if your competitors offer innovative product visualization, like 3D and AR, and you don't – there’s a good chance that they’ll be a step ahead.
If your business is looking for 3D models to digitize your offerings, Modelry offers custom 3D models to suit your commerce needs.
Our solutions help you get started easily:
Retailers will need to adapt to this immersive, 3D channel. And realize that photography is slow, costly, and belongs in the past. A strategic approach to speeding up adoption should include moving assets to digital twins or 3D models.
And like the World Economic Forum, we also believe: “in the physical and digital working together to put the customer at the heart of a sensory and emotional experience that will deliver what they really want.”
The expert 3D modeling solution your brand needs to maximize all your retail channels is a click away.
Try our platform today to kick off your visualization journey.
Lara Oliveira is a Content Manager at Modelry. With over a decade of experience writing across corporates and startups, she is now focused on helping companies innovate with 3D and AR technology. Reach out to her at pr@cgtrader.com to talk about possible content collaborations!
