How metavers is transforming the world of retail

How metavers is transforming the world of retail

“Metavers”. This word was still unknown a few months ago, and yet, it is on everyone’s mind today. Let’s take a closer look at this parallel and yet very real universe, which is starting a notorious movement in the world of commerce and is causing a lot of ink to flow.

What is the Metaverse and what is its impact on the world of retail? According to the Mc Kinsey research firm1, the metaverse is not a replacement for the physical world, and has (among other things) the following basic characteristics: a sense of immersion, real-time interactivity with a multitude of other users, and a usage that goes beyond simple gaming.

The extent of the metaverse’s impact on consumers’ daily lives is still unknown, but one thing is certain: the public struggles to understand how the metaverse works.  According to a study conducted by Censuwide2, 27% of respondents believe that the metaverse will offer them an experience similar to that of the physical world, and more than 65% of them would not buy a product in the metaverse that would offer them an experience similar to real life.

However, these figures should be tempered: the metaverse is still in its earliest stages, and could be worth nearly $5 trillion by 20301. This potential has not escaped the attention of many. This potential has not been missed by large retailers, such as Carrefour, the first to acquire a plot of land in the Metaverse, for €300,000, or Géant Casino, which has announced its ambition to create an immersive video game3. All this without counting on Gen Z (people born between 1997 and 2010), who are naturally more curious and twice as likely to buy in the Metaverse than consumers over 55.

Is the metaverse an undeniable channel for value creation or a fleeting fad?

At Greenman Arth, and more generally within the Greenman group, we take these new emerging trends very seriously and are working on them. The objective? To create value for our tenants, for the visitors of our assets, and ultimately, for our investors.

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