The Metaverse has been dominating industry news lately, coupled with a seemingly explosive interest in the value of NFTs. One might think that virtual reality, entering these 3D digital universes like walk-in closets, is approaching everyday reality. According to a new market study by fashtech platform Browzwear, the Metaversum will offer brands the opportunity to test designs and styles before they go into production. The reasoning is that if something is popular in the Metaverse, that’s a good indicator of how the design will perform in real life.
However, a study by marketing automation platform Klaviyo found that the majority of UK shoppers have no idea what the Metaverse is, and more than 90 percent of respondents had little desire to shop in the Metaverse.
Avihay Feld, CEO and co-founder of Browzwear, is not surprised by the survey results. It is believed that most people who enter the Metaverse are unable to design complex clothing items from scratch. “The metaverse remains largely an abstract concept,” Feld told FashionUnited. “Until people have the opportunity to experience the kind of immersive experiences that we envision, they have no way of knowing how they would feel or behave when they are in that experience.” Browzwear’s goal is to Helping brands empower consumers with tools to express themselves and experiment at home. Browzwear uses the term “gamifying fashion” to describe how users are also just having fun with the technology, while brands are able to identify the designs that are penetrating the Metaverse market and people are picking up on the most.
In 2005, Browzwear created a game that allowed teens and young adults to redesign branded items, leading to the creation of the current Stylezone service. The results of this experiment anticipate what Avihay Field sees in the metaverse. The styles that proved popular in video games were the same ones popular online and in stores.
“If you could attend a concert by your favorite band in the metaverse, would you be interested in buying a t-shirt for your avatar to wear?” asks Feld, who believes rephrasing the question in such polls will yield different results “Now that the concept of the Metaverse is based on something that’s easy to understand, the answers would be more reflective of actual reality.”
Debate heats up over the meaning of the metaverse
But the findings of Klaviyo, a Boston-based consumer platform founded in 2012 that enables companies to use data to create personalized experiences and grow their businesses, suggest that companies should listen to their customers before investing in marketing technology that 58 percent of people don’t understand. This is the message Klaviyo has conveyed to its partners, which include big names like Fila.
The study conducted by Klaviyo in January 2022 with over 1,000 people shows that the most desirable target group is least likely to shop in the Metaverse: 96 percent of 25-54 year olds say they would not shop in the Metaverse. The figures are no different for younger adults: 93 percent of 18 to 24-year-olds would not shop in the Metaverse, 46 percent do not know the Metaverse at all.
Ed Hallen, Klaviyo’s co-founder and chief product officer, says: “It’s clear that the metaverse will be the buzzword of the year and we’ll all enjoy seeing the eye-catching marketing campaigns take shape, but our data shows, that it’s still a long way from being part of the mainstream.”
Avihay does not consider such results to be a suitable basis for business decisions. “What companies should be thinking about now with the Metaverse is how to engage in a meaningful way that will add value to their audience and keep them coming back.”
With the launch of the Metaverse in 2021 amid an ongoing pandemic, brands are understandably eager to explore new ways to embrace technology to improve customer relationships and enhance their business model. It remains to be seen how this separation between target group and brand will dissolve in 2022.
“While some brands may be quick to build their Metaverse booth, smart companies are biding their time, listening to their customers, and not rushing head first,” says Hallen. “As we say, ‘Always put the customer first.’ When asked about improvements, pay attention to them. The avatar can wait now.”
Fashion editor Jackie Mallon is also an educator and the author of Silk for the Feed Dogs, a novel set in the international fashion industry.