For LVMH metaverse is too speculative
Not all retailers see the best opportunity in and around metaverse now. Some of them are rather waiting to see if it is just a speculative bubble or if it is a “real thing”.This it’s totally okay and it is definitely one of the strategies we should highly respect.
“This is a virtual world. And right now, we are very much in a down-to-earth world,” Mr. Bernard Arnault, CEO of LVMH, said last week on LVMH’s fourth-quarter analyst call. “We want real products, selling for real.”
Many other retailers recognized it differently. They recognized that digital products are as important and as valuable as physical products are. For some consumers they are even more interesting.
Just think about generation Z that “lives” more or less in digital worlds.
Mr. Arnault added, “We are not interested in selling virtual sneakers for 10 Euros. We’re not into that. There may be more relevant applications, but we have to see what these applications might be.”
If we understand metaverse as a place to sell virtual items then there are some limits certainly. But on the other hand if we understand it as a new social environment then it’s getting a totally different meaning.
Coming back to Gen Z, they really like to choose and pay products online and get them delivered the same day.
Why not choosing the product in the metaverse and having them delivered the same day?
Original text at: https://retailwire.com/discussion/is-the-metaverse-a-bubble-waiting-to-pop/