The future for ecommerce in the metaverse
October 8, 2022
With the new launch of the Metaverse, it allows buyers of digital goods or physical products to have a better and new experience in their purchases, being Facebook one of the largest platforms in terms of advertising, this launch will change the forms of electronic commerce and online shopping. You also can get into the metaverse.
In the past
Facebook, Shopify and WordPress are the platforms that were previously known for electronic commerce, on these platforms users were allowed to start with digital sales to reduce physical spaces and make everything easier; From these platforms, mostly Facebook, many small businesses could sell products from Alibaba and Amazon and earn a lot.
In the present
Cryptocurrency wallets or Chrome extensions that help you shop are some of the most noticeable additions to digital shopping, since not much has changed from five or ten years ago. However, with the release of Meta at the end of 2021 it can be considered as the beginning of the metaverse with several changes that have been introduced.
Walmart, Nike, among other companies, have begun to implement virtual shopping methods for their buyers and users, anyone with a VR or AR headset can try these new real shopping methods in the metaverse. For example, with Walmart you have a shopping cart and a virtual assistant named Sam, and Nike used Nikeland through the Roblox gaming platform.
In the future
Meta is the only platform that has a monopoly on the Metaverse that will control the virtual shopping market. Meta stated that they would take 47.5% of the value of a transaction in the metaverse, which may cause companies and e-commerce platforms to leave the Meta market.
In case these companies that are part of the metaverse in Meta and want to continue with their sales, they will have to create new strategies to grow in order to pay the exorbitant transaction fees to be able to sell on the platform. However, keep in mind that 83% of customers can refer friends and family to make a great first impression with their sales and have regular and potential customers from here.
The market movers
Shopify, Stripe, and Clover are companies that are important to start with in the metaverse. Other than Meta, these companies are the ones that handle online sales transactions, and can have a huge effect on sales on the platform.
Email marketing, digital ads and being present on different social media platforms are benefits for marketing strategies, being also cheaper.
Therefore, we must be aware of new types of business that can benefit small businesses to grow and be promoted with their respective websites, which means that in about five or ten years digital marketing and sales can change and grow, for example, in the last three years with the inclusion of Tik Tok (and other platforms for marketing) in sales that resulted in great benefits for these and companies.
To grow your small business in the metaverse there are many opportunities, you must be aware of what is new and what is trending to grow your business and sales.