The metaverse as a new channel of promotion and distribution in brands’ omnichannel strategy
SONAR|HES-SO
- Lima, Natalia
- Dauverné, Astrid (Degree supervisor)
- Genève : Haute école de gestion de Genève
115 p.
Bachelor of Sciences HES in International Business Management: Haute école de gestion de Genève, 2023
English
Today’s global landscape presents infinite opportunities for brands to create, test and iterate new ways of meaningfully interact with their consumers across distance, through a new channel of promotion and distribution, the metaverse. In an increasingly omnichannel world, a gap is observed between e-commerce and brick-and-mortar stores, where consumers’ needs cannot be fulfilled simultaneously by only one channel. Luxury fashion brands are already exploring the potential of the metaverse outlining the need for research on this emergent channel. The purpose of this study is to understand why consumer-packaged goods brands should integrate the metaverse as a new channel of promotion and distribution in their omnichannel strategy, through the formulation of three main hypotheses.
First, the metaverse is an interesting new way of shopping according to consumers. Through the launch of a quantitative online survey, targeting consumers to better assess their shopping habits and their willingness to shop in the metaverse, it has been demonstrated that although survey respondents are reluctant to buy virtual goods, they show an interest to shop in the metaverse and recognize a higher perception of innovativeness towards a brand offering metaverse experiences.
Second, this new channel shows signs of longevity according to brands, authors, and field experts, which has been confirmed through the analysis of secondary data and qualitative personal interviews conducted, while recognizing adoption barriers and limitations to be considered. The confirmation of this second hypothesis is encouraging for brands to start testing and learning their metaverse strategies for future proofing and to increase consumer’s perception of innovation.
Third, the metaverse bridges the gap between online and physical experiences. It has been shown that brands should integrate the metaverse as a new channel of promotion and distribution in their omnichannel strategy to bridge the gap between online and instore experiences to scale ubiquity, by creating highly personalized consumer journeys, and enhancing community building that drives brand advocacy.
To determine if this new channel should be leveraged, a step-by-step decision framework of whether brands should integrate the metaverse as a new channel has been outlined in the recommendations of this research, containing three methods of approach. Furthermore, a proposed brand strategy framework is available for brands to achieve a successful metaverse implementation.
First, the metaverse is an interesting new way of shopping according to consumers. Through the launch of a quantitative online survey, targeting consumers to better assess their shopping habits and their willingness to shop in the metaverse, it has been demonstrated that although survey respondents are reluctant to buy virtual goods, they show an interest to shop in the metaverse and recognize a higher perception of innovativeness towards a brand offering metaverse experiences.
Second, this new channel shows signs of longevity according to brands, authors, and field experts, which has been confirmed through the analysis of secondary data and qualitative personal interviews conducted, while recognizing adoption barriers and limitations to be considered. The confirmation of this second hypothesis is encouraging for brands to start testing and learning their metaverse strategies for future proofing and to increase consumer’s perception of innovation.
Third, the metaverse bridges the gap between online and physical experiences. It has been shown that brands should integrate the metaverse as a new channel of promotion and distribution in their omnichannel strategy to bridge the gap between online and instore experiences to scale ubiquity, by creating highly personalized consumer journeys, and enhancing community building that drives brand advocacy.
To determine if this new channel should be leveraged, a step-by-step decision framework of whether brands should integrate the metaverse as a new channel has been outlined in the recommendations of this research, containing three methods of approach. Furthermore, a proposed brand strategy framework is available for brands to achieve a successful metaverse implementation.
- Language
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- English
- Classification
- Economics
- Notes
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- Haute école de gestion Genève
- International Business Management
- hesso:hegge
- Persistent URL
- https://sonar.ch/global/documents/327701
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