"Reimagining Retail: Embracing the Metaverse for a New Shopping Experience"

Abstract

Digitalization emerged Metaverse with a pace ahead after Pandemic drastically. Through that continuing digital shift, the idea of the metaverse is spread into various segments. This paper examines the impact of the metaverse in the retail sector. Metaverse revolutionizing the retail sector with spatial dimensions. It is affecting retail businesses and there is an evolution of VR, 3D visualization, etc. at large. A special focus is placed on important advertising elements, and we draw attention to the main obstacles and possibilities that users encounter in the metaverse. Metaverse faces challenges that enable future generations towards augmented life, complete and isolated immersion. For this phenomenon, the impact is analyzed through the timing to move from traditional to metaverse. One key finding is that this scenario is facilitating consumers and retailers by generating trust, cost-effectiveness, augmented experience, etc. In the end, there are some examples showing a blend of both growing and capturing the market in the metaverse phenomenon.