08/08/2022 | Press release | Distributed by Public on 08/08/2022 13:06
Despite the intense hype and excitement about future retail opportunities, a single retail metaverse will not emerge before the end of this decade. Our latest research aimed at technology and service providers that support the retail industry sets out to guide product leaders on the impact of Metaverse, Web3, NFT and other technologies. Product leaders must not overspend but invest selectively to capitalize on retailer early-adopter experimentation in the short term.
Gartner defines a "metaverse" as a collective virtual 3D shared space, created by the convergence of virtually enhanced physical and digital reality. A metaverse is persistent, providing enhanced immersive experiences. Gartner expects that a complete metaverse will be device-independent and will not be owned by a single vendor: It will have a virtual economy of itself, enabled by digital currencies and NFTs.
[Link] Gartner expects a complete metaverse will be device-independent and will not be owned by a single vendor: It will have a virtual economy of itself, enabled by digital currencies, NFTs or some equivalent. This will seriously call into question the existing nature of the retailer-customer relationship and, therefore, the foundational retail business model. Yet retailers are largely in an embryonic state regarding metaverses, and Gartner's inquiries from retailers reflect this immaturity as questions range from basic concepts to industry examples.
Gartner clients can read more here: Metaverse's Implications for Retail Technology and Service Providers