Shopping 3.0: Walmart Consumer Metaverse – An online shop as V-Commerce with Walmart Land and Walmart's Universe of Play? | Roblox
Published on: October 13, 2023 / Update from: October 13, 2023 - Author: Konrad Wolfenstein
Walmart Consumer Metaverse – An online shop as V-Commerce with Walmart Land and Walmart's Universe of Play? – Image: Jonathan Weiss|Shutterstock.com
🛒🌐 Walmart aims to expand retail through the metaverse
There is news about Walmart's commitment. While this article focuses more on strategy, the following update link has the news and information about what has changed.
Update here:
The development of digital technologies is constantly increasing and has already revolutionized many aspects of our everyday lives. One of the latest developments in this field is the Metaverse, a virtual reality that is increasingly becoming an extension of our real lives. Walmart, one of the largest retail chains in the United States, recently announced that it is not only witnessing this digital revolution, but is taking a leading role in it.
🌍 The jump into the virtual world
Instead of limiting itself to conventional retail strategies, Walmart wants to conquer the digital space and set new standards. The company is working on creating its own 3D branch in the Metaverse. Here, customers can stroll through the aisles, just as they are used to in physical branches. The difference is that the shopping cart is virtual and can be navigated through the 3D environment.
💳 A seamless shopping experience
One of the most interesting aspects of this initiative is the integration of the company's own mobile payment service Walmart Pay. Customers can pay for their purchases directly in the virtual environment. The special highlight: The goods purchased in the Metaverse are then delivered to a real address. This eliminates the need for additional steps or applications and significantly simplifies the shopping experience.
🌐 The connection between the virtual and physical worlds
But that's just the tip of the iceberg. Walmart plans to connect the virtual store with the physical world. For example, interfaces to smart home devices would be conceivable. Shopping lists could be imported directly from intelligent refrigerators into the virtual shopping cart. The use of augmented reality for product recognition and information is also being discussed.
🎮 Brand loyalty through gamification
By using gamification elements, Walmart could also strengthen customer brand loyalty. Discount promotions or special events could take place directly in the Metaverse, making shopping an interactive and fun experience.
👥 The role of the community
In addition to the shopping experience, the virtual world also offers opportunities for social interaction. Customers could meet in the virtual branch, exchange product reviews in real time or even take cooking classes together. In this way, Walmart could build and maintain a community around the brand.
🔐 Data protection and ethics
Of course, such developments also raise questions regarding data protection and ethics. Walmart will need to provide clear policies and transparency in this regard to avoid jeopardizing customer trust.
📝 Opening up the Metaverse
Walmart is planning much more than a simple digital presence. The company aims to create a seamless and augmented shopping experience that blurs the boundaries between the physical and digital worlds. Opening up the Metaverse represents a revolutionary step in the development of retail that has the potential to fundamentally change the way we shop.
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🛒 Walmart takes its first steps into the Metaverse – with virtual worlds on Roblox
Walmart, the US retail giant, has ambitious plans for the Metaverse. The company plans to create an online store where digital goods can be bought and sold in the Metaverse. These plans are no longer mere intentions but are now being put into action.
🌐 The idea of having a presence in the Metaverse is an exciting step for Walmart. The Metaverse represents a virtual world that exists beyond physical reality where people can interact, trade, and perform a variety of activities. This emerging area has been attracting a lot of attention recently.
🚀 In order to realize this ambitious project, Walmart has already registered several trademarks with the US Patent and Trademark Office (USPTO) in early 2022. This shows that the company has serious plans to gain a foothold in the Metaverse.
🔍 It's interesting to see how Walmart has evolved in the e-commerce space over the past few years. The company was previously seen as slow and late to digitally transform. However, in the recent past, it has made significant progress and established itself as a major player in online trading.
🌐 Walmart's metaverse ambitions are part of a broader trend in which companies are exploring and leveraging the possibilities of so-called "Web 3.0." Web 3.0 represents a new era of the Internet in which decentralization, blockchain technology and virtual worlds play a central role.
🌟 It's worth delving deeper into Walmart's moves and considerations as they could impact the future of retail and the metaverse in several ways:
1. Digital goods in the metaverse
The idea of buying and selling digital goods in the metaverse opens up a whole new market segment. This could range from virtual clothing and accessories to digital real estate. This business model could be of interest not only to players in virtual worlds, but also to companies and private individuals.
2. Trademark Registration
The fact that Walmart has registered trademarks related to the Metaverse shows that the company has serious plans. It also signals that Walmart intends to protect and strengthen its presence in the metaverse.
3. Digital advancements from Walmart
Walmart's transformation in e-commerce is remarkable. The company has invested heavily in technology and logistics to compete with online giants like Amazon. This experience and resources could benefit Walmart in the Metaverse.
4. Web 3.0 and the future of the Internet
Web 3.0 is an emerging concept that decentralizes the Internet and creates new opportunities for interaction and business. Companies that invest in this technology early on could position themselves as pioneers and reap the benefits.
5. Walmart driving the metaverse
If Walmart succeeds in the metaverse, it could inspire other companies to make similar moves. This could accelerate the growth of the metaverse as a whole and open up new opportunities for business and innovation.
🌍 Walmart's initiative in the Metaverse shows how profoundly digital transformation is changing retail. The Metaverse offers an exciting new dimension in which companies like Walmart can expand their presence and explore new business opportunities. It will be exciting to see how this development unfolds in the coming years and how it shapes the future of retail and the metaverse.
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🛒 V-Commerce: The ingenious hybrid shopping model 🛍️ Also applicable for hybrid trade fairs 🎪🤝 and events 🌐🎉
XR (Extended Reality) & Metaverse Gateway Technologies 2024 – Image: Xpert.Digital
V-Commerce, a combination of “virtual” and “commerce”, is a new hybrid model for retail that can also easily be used at hybrid trade fairs and events. Imagine blurring the lines between online and offline shopping, opening up endless possibilities for buyers and sellers alike. This model can also be used as a cross-border solution, which makes it particularly interesting for internationally operating companies.
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🌟 Walmart enters the virtual world of Roblox
Walmart enters the virtual world of Roblox with two exciting experiences: Walmart Land and Walmart's Universe of Play. These groundbreaking projects were announced last year and are intended to enrich the online gaming platform Roblox with new offerings.
🛍️ Walmart Land: A paradise for fashion and more
Walmart Land is a virtual paradise for fashion, beauty and entertainment lovers. In this digital world, Roblox users can immerse themselves and purchase products for their avatars. The highlight is that they can use their badges and coins earned on the platform to purchase these virtual treasures. This is not about making money directly, but rather about providing users with an entertaining and interactive experience.
🎮 Walmart's Universe of Play: Adventures for toy fans
Walmart's Universe of Play, on the other hand, is aimed at the toy lovers in the Roblox community. In this environment, users can explore toy worlds and earn virtual goods. What's special is that Walmart wants to offer games with products and characters from popular entertainment brands like Jurassic World and Paw Patrol. This promises exciting adventures and a wide range of virtual toys.
🌐 Strategic decision by Walmart
Walmart's decision to dive into Roblox's metaverse is strategically well thought out. Roblox already has a huge community of over 52 million daily users, mostly young people. This audience is extremely valuable to Walmart because it can significantly influence the company's long-term goals.
👔 William White, CMO of Walmart, in an interview
William White, Walmart's chief marketing officer, emphasized the importance of this initiative in an interview with Bloomberg. It's Walmart's first major move in the metaverse, and it aims to reach customers in unexpected and compelling ways. This move into the virtual world is evidence of how companies are increasingly recognizing the potential of the metaverse to showcase their brands and products.
💡 Potential of the Metaverse for Walmart
The idea of turning virtual experiences into real-world purchases is a smart approach. Although Walmart doesn't currently generate direct revenue from its immersive experiences, it may well do so in the future. The ability to let brands pay to immerse themselves in these virtual worlds and showcase their products could be a lucrative source of revenue. Additionally, the virtual experiences could encourage users to visit physical Walmart stores or make online purchases.
🚀 The Metaverse as a platform for companies
The Metaverse is increasingly becoming a venue for companies to engage with their audiences. The fusion of virtual and real experiences opens up exciting opportunities for marketing and customer engagement. Walmart has made an impressive entry into this emerging world with Walmart Land and Walmart's Universe of Play.
🛒 A retail industry in transition
This initiative from Walmart shows how retail is constantly evolving and finding new ways to delight customers. The Metaverse provides an exciting platform for businesses to create innovative and entertaining experiences that can drive customer loyalty and create new revenue streams. With Walmart Land and Walmart's Universe of Play, Walmart has taken a step into the future and is leveraging the power of virtual worlds to capture the attention of young consumers.
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🛒 Walmart in the Metaverse: New Shopping Dimensions 🌐
In addition to embracing traditional online shopping, Walmart plans to conquer the metaverse with exciting shopping experiences. The company aims to offer a wide range of virtual experiences designed to not only entertain but also revolutionize traditional shopping.
🎵 Virtual October concert “Electric Fest” 🎤
A notable example of these ambitions was Walmart Land’s October virtual concert called “Electric Fest.” Well-known artists such as Madison Beer, Kane Brown and Yungblud performed at this event. But that was not all. Walmart is committed to innovation and has created a “physics-defying Ferris wheel.” This Ferris wheel allows visitors to get a breathtaking bird's eye view of the virtual world of Walmart. It's a clear indication of how the company is blurring the lines between the real and virtual worlds.
👗 Virtual dressing room “Be Your Own Model” 👠
Another exciting development is the launch of Walmart’s “Be Your Own Model” virtual fitting room. Launched back in September, this innovative solution allows customers to virtually try on garments before purchasing them. This is a step towards more personalized and convenient online shopping.
📺 Walmart is getting into the streaming business 🎬
Additionally, Walmart has plans to enter the streaming business. The retail giant has already held discussions with industry giants such as Paramount, Disney and Comcast to explore possible collaboration opportunities. This suggests that Walmart wants to play a significant role not only in physical retail but also in the digital entertainment industry.
🌐 The Metaverse and its meaning 🚀
The Metaverse, a term that has gained a lot of attention recently, refers to a virtual world in which users can interact, trade and communicate. It is a type of augmented reality that combines various elements of the physical and digital worlds. The Metaverse promises a new paradigm for the way people interact and conduct business online.
🚀 Potential of the Metaverse for Retail 🛒
Walmart isn't the only company recognizing the potential of the metaverse. In recent years, many tech giants such as Meta (formerly Facebook), Google and Microsoft have announced that they will invest in the Metaverse and develop their own virtual worlds. These developments suggest that the Metaverse is not just a passing fad, but could be the future of the Internet.
The idea of using the metaverse for retail offers numerous possibilities. One of these is the creation of virtual shopping worlds where customers can explore and purchase products as if they were physically in the store. These virtual shopping experiences can be made even more realistic thanks to modern technologies such as augmented reality (AR) and virtual reality (VR).
🎉 Innovations at Walmart: “Electric Fest” and more 🎡
An example of these innovations is Walmart Land’s “Electric Fest” mentioned above. This virtual concert allowed attendees to not only listen to music, but also virtually navigate through an environment designed specifically for the event. This enabled an immersive experience that went far beyond what is possible in a traditional online store.
Walmart’s “physics-defying Ferris wheel” is another example of the possibilities of the metaverse. This virtual Ferris wheel allows users to move around in a virtual environment while enjoying the freedom of defying gravity. Such experiences are not only entertaining, but also show how the Metaverse can redefine physical laws.
Walmart's Be Your Own Model virtual fitting room is a step toward more personalized shopping. Customers can try on garments virtually to ensure they fit well and meet their expectations. This greatly improves the online shopping experience and reduces returns of products that don't fit.
📺 Walmart in the streaming business: opportunities and potential 🎥
Walmart's move into the streaming business is another indication of how the metaverse is affecting various industries. The company recognizes the potential of the digital entertainment sector and wants to play a role in this growing market. Conversations with major media companies indicate that Walmart is seriously interested in entering this space.
Overall, Walmart's strategy in the metaverse shows that the company is ready to adapt to changes in the retail and digital world. The Metaverse offers new possibilities not only for commerce, but also for entertainment and social interaction. It will be exciting to see how Walmart capitalizes on these opportunities and what other innovations the company introduces in the future.
🤝 Walmart in talks with Paramount, Disney and Comcast 🤝
Given Walmart's discussions with Paramount, Disney and Comcast regarding potential streaming collaborations, this is an exciting move for the company. The streaming market has grown rapidly in recent years, offering a wealth of entertainment options for consumers. By partnering with established media companies, Walmart could gain a foothold in this competitive market and offer a wide range of content.
Paramount, Disney and Comcast are among the heavyweights in the entertainment industry and have an impressive library of films and series. If Walmart successfully enters the streaming space and these collaborations come to fruition, it could gain access to high-quality content to offer its customers. This could make Walmart's streaming offering attractive and competitive.
🛍️ Walmart and the Metaverse: A Seamless Connection
It's also interesting to see how Walmart connects its physical retail stores with its digital business and the metaverse. The company has already gained experience in e-commerce and operates both online shops and stationary stores. By integrating virtual shopping experiences into the metaverse, Walmart could create a seamless bridge between its physical stores and the digital world.
👗 Virtual Changing Rooms: “Be Your Own Model”
The idea of offering virtual fitting rooms like “Be Your Own Model” is another step in this direction. Customers can try on items virtually while navigating Walmart's virtual world. This creates an interactive shopping experience that combines the benefits of online shopping with the fun and social interaction of a physical store.
🌐 Walmart in the Metaverse: Innovation Strategy
Overall, Walmart's strategy shows how companies are seeking to harness the potential of the metaverse to expand their business models and create more innovative shopping and entertainment experiences for their customers. It will be exciting to see how these developments evolve in the coming years and how they influence the way we shop, entertain and interact online.
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Metaverse & Extended Reality training, lecture or workshop for augmented, mixed and virtual reality – Xpert.Digital
In today's digital era, technology is evolving at a rapid pace. There are constantly new terms and technologies that need to be understood and mastered. If you're having trouble keeping up with topics like Metaverse, XR technologies, or immersive 3D, you're not alone.
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🗒️ Xpert.Digital: A pioneer in the field of extended and augmented reality
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🗒️ Find the right Metaverse agency and planning office such as a consulting firm - search and search for top ten tips for consulting & planning
In the age of digitalization, where technologies such as Extended Reality (XR) and the Metaverse are constantly becoming more relevant, Xpert.Digital positions itself as an opinion leader and pioneer. With over 1,500 specialist articles, Xpert.Digital has established itself as a central point of contact for the industry.
🌌 Extended Reality (XR): The best of both worlds
Extended Reality is a collective term that includes virtual reality (VR), mixed reality (MR) and augmented reality (AR). Xpert.Digital is committed to creating immersive XR experiences that are both informative and entertaining.
- Interactive Experiences: XR allows users to immerse themselves in virtual worlds and interact with their surroundings in ways previously unimaginable.
- Education and Training: XR can be used for educational purposes to convey complex topics and concepts in an understandable and tangible way.
- Entertainment: Whether games, films or art – XR opens new horizons in digital entertainment.
🔮 Augmented Reality (AR): See the world through digital eyes
Augmented Reality, a particular focus of Xpert.Digital, makes it possible to integrate digital information or graphics into the real world. The possibilities are nearly unlimited.
- Marketing and Advertising: AR can be used to create interactive advertising campaigns that engage customers in a whole new way.
- Everyday help: From navigation apps that project the route directly onto the street to furniture apps that show what a new sofa would look like in the living room - AR makes it possible.
🌐 The Metaverse: The Next Big Thing
The Metaverse is a virtual world where people can interact through avatars and create shared experiences. Xpert.Digital recognizes the enormous potential of the Metaverse and is working to translate this potential into usable products and services.
- Social Interaction: The Metaverse offers the opportunity to connect with people from all over the world and share common experiences.
- Economy and trade: Virtual goods and services can be traded in the metaverse, which opens up completely new business models and sources of income.
- Creative Freedom: From building your own worlds to designing custom avatars, the Metaverse is a place of endless creative possibilities.
🚀 Xpert.Digital at the forefront of innovation
Xpert.Digital shows how a company can be at the forefront of the technological revolution. With their focus on XR, AR and the Metaverse, they are well positioned to shape and define the future of digital interaction.
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