Taking Trinity to the Metaverse
The Metaverse is redefining the possibilities for brand communications and commerce as digitalisation accelerates globally. This session explored how it can be applied into the travel retail channel. It was expertly moderated by Accenture Growth Markets Travel Industry Leader Mike Tansey and featured DFS Group Limited Global Marketing & Digital Ventures Executive Vice President Long Chiu and Trinity Challenge winner, Brand Embassy & Dayholi Founder Fjolla Holzleithner.
Tansey said: “The Metaverse is not the future, it’s the reality today. It already has 400 million users who spent US$54 billion in virtual goods last year. By 2024, the Metaverse is predicted to bring in US$800 billion in revenue.
“The Metaverse is the ‘Internet of Place’, a merging of the physical and virtual worlds,” Tansey explained. “It is redefining a borderless world. We believe it will revolutionise all aspects of life and business in the next decade and create new lines of business between customers and companies.”
Mike Tansey: The Metaverse is an opportunity today, not just tomorrow
Holzleithner introduced the Metaverse, its benefits, the technologies involved and its use-cases in travel retail. She highlighted Dayholi’s latest project with singer/songwriter Dua Lipa, which invited users on Decentraland to play a game in the Metaverse to win real-life concert tickets. (See also our review of The Trinity Challenge .)
Fjolla Holzleithner: The case for the Metaverse in travel retail
Chiu explored what the Metaverse means for a retailer such as DFS Group and highlighted exciting Metaverse use cases from Louis Vuitton, Nike, Gucci and Balenciaga. For Chiu, the Metaverse represents the next era of the web. He said: “The Metaverse can lead to gamified learning, communal activities and simulations which can lead to more immersive ecommerce and shopping experiences.”
DFS Group recently launched its first-ever virtual universe – DFS World – in conjunction with the launch of its largest-ever Annual Beauty Campaign. Throughout the campaign, customers were invited to explore the travel retailer’s beauty-themed Metaverse to capture exclusive DFS NFTs. They also discovered interactive experiences, displays and limited-time offers from their favourite beauty brands; and enjoyed an array of exciting in-store activations.
Chiu urged the Trinity to bring the Metaverse into the retail space. He said: “Retailers need to build Metaverse experiences that authentically and meaningfully engage with consumers. DFS Group is developing a strategy that is focused on generating value for our customers and partners. The virtual should be used to enhance the real and physical.
“We need to test initiatives, monitor results and refine the experience. We need to experiment and think about the Metaverse as a holistic consumer experience across the physical, digital and virtual world. Finally, we need to prepare to scale and embed The Metaverse in our business strategy and operating model.”
Long Chiu: “We need to prepare to embed the Metaverse in our business strategy and operating model.”
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