We went metaverse shopping, and here’s what we found

When Mark Zuckerburg (aided by a sunscreen-slathered surfing avatar) introduced Meta in October 2021, companies scrambled to avoid being left behind in the metaverse. And Zuckerberg himself predicted the metaverse would do hundreds of billions of dollars in digital commerce in the next decade.

Nearly one year out from Meta’s big reveal, there’s no central place where everyone’s avatars appear regularly. And nobody seems to know what exactly it would look like if it existed.

That’s not to say that brands aren’t thinking about it: Some are venturing into the vast unknown of the metaverse. Take digitally native D2C brands like Oui The People, YouthForia, and Golde, which were among those propping up digital booths at the MetaMarket in July, where shoppers directed avatars around a virtual outdoor mall, avoiding (or walking right through) pools and fountains, and stepping into shops to chat with founders and brand representatives.

“I think [brands are] trying to see what the potential applications are,” Insider Intelligence senior analyst Sky Canaves told Retail Brew. “They’re trying to establish road maps for routes that don’t yet exist, but they’re trying to get a sense of what the landscape is going to be like.”

Tech is playing catch-up

While the graphics at the MetaMarket might have been reminiscent of a family-friendly desktop game circa 1995, there are other challenges to shopping in the metaverse.

“We’re still in the very, very early conceptual stages of thinking about [the] Metaverse and what it can mean for retail,” Canaves said. “A big challenge is just that the technology is not there.”

Andrea Popova, co-founder and CEO of MetaMarket co-host CPGD, said payments were the biggest pain point when it came to moving shoppers through the MetaMarket.

• “The future of the meta shopping experience will be one in which you’ll be able to shop directly within the platform itself,” she said. In the meantime, attendees check out using a separate page powered by Shopify, where they can use discount codes offered by brands.

Connection in a digital world: Payment friction aside, Karen Young, CEO of Oui the People (of rose-gold razor fame) says the metaverse may be less about sales and more about engagement.

It’s a way to connect with audiences outside of a “sell, sell, sell experience,” and to expand beyond the traditional “one-way” model of brands speaking to their audiences on Instagram or Facebook, she said.

• “As a digital-native brand, it feels like our place is in the future,” Young told Retail Brew. “Clearly it’s evolving to include the metaverse, which means we need to be there as well.”

Superfood company Golde, which also had a booth at the MetaMarket, views the metaverse as a major opportunity for small brands.

“There is tremendous value in reaching new audiences and communities and meeting them where they are,” Jessie Newland, Golde’s director of marketing, told Retail Brew via email. “Small brands have a unique ability to be nimble and take advantage of that to test into new opportunities to grow and engage.”

• At the MetaMarket, Golde team members engaged with different shoppers and had meaningful connections about their products and brand, Newland said.

While the future of the metaverse shopping experience is uncertain, MetaMarket will see further iterations. Future MetaMarkets will focus on expanding the use of influencers, Popova said. At the most recent market, influencers were able to shop with their followers in a virtual world. Founders of small brands have also asked for timed, themed events, like demos, panels, or speeches, and Popova is already thinking ahead to a B2B MetaMarket, bringing together founders, wholesale buyers, and investors.

And of course, “hopefully finding a payment solution!” Popova added.