How is the Metaverse affecting the ecommerce industry?

We are seeing a slew of companies make strides in the Metaverse, which is defined as a collective and digital shared space that immerses users in a growing collection of increasingly popular virtual engagement models. According to SMartBrief, 41% of consumers say that they’d like to shop in virtual worlds, so high-profile retailers are creating Metaverse-specific strategies and launching marketing initiatives focused on targeting consumers and increasing engagement, sales and customer loyalty. Luxury fashion brands including Gucci, Balenciaga, Louis Vuitton, and Burberry are among the first to integrate immersive Metaverse experiences into customers’ shopping