The shopping season is set to kick off with the onset of the great big Indian festival season that commences with the upcoming Ganesh Chaturthi festival. This puts the spotlight on the retail sector, where consumer engagement is of prime importance. Retailers can no longer afford to be quite laid-back about it as they are no longer just operating in a physical world, but also a digitalised one. However, the digitalised world, which includes websites, mobile apps, and social media, has now gone virtual with Metaverse and Web 3.0 and retailers are now exploring the technology to leverage their brand, consumer engagement, and sales, this festive season.
The immersive technology of Metaverse, which is a combination of augmented, virtual and mixed reality, is largely youth-driven. Agam Chaudhary, the founder of Two99, which delivers end-to-end marketing solutions to WEB 3.0 companies, says, “Be it digital or virtual, it’s the new generation that is driving the trend, especially since they are the prime consumers in gaming on Metaverse. They are used to a certain level of 3D experience that Metaverse has to offer and would expect the same in all their other virtual engagements. In fact, it’s a highly personalised experience for the retailer, too, to take the product to the consumer wherever he/she is virtually.”
Interestingly, the retail sector is no longer the only real-world metaverse use case. The immersive technology has already made inroads in other eight sectors, including healthcare, travels & tours, financial services, media & telecommunications, public sector, construction and real-estate, energy and industrial goods and transportation. “This is a far cry from the general belief that the metaverse will be a reality in another five years. It is already here,” says Mr. Chaudhary, adding, “The operational problem of creating the metaverse still exists even though India appears to have the technical, demographic, and policy basis for it. The deal flow in the private sector must quicken if India is to assume a leading position.”
With its thriving tech sector and culture of entrepreneurship, India is primed to help build the metaverse, which has been pegged to be an $800-billion market by 2024 and $5-trillion by 2030
Two99, with the help of rich experience in Web3 and proprietary marketing and sales tools for Web3, has been helping brands across the globe to build contributing communities, define tokenomics, and get investments. In a first in the industry, the Two99 tool has proved to be the ultimate algorithm to understand where a brand is and what all needs to be done to meet any business KPI. It has over a dozen successful case studies.
Two99 is a platform that delivers end-to-end marketing solutions to WEB 3.0 companies at breakneck speed. They understand the close relationship that exists between emerging virtual technologies (Web 3.0, Blockchain, Crypto, NFTs, DeFi and Metaverse) and the real world. They believe that with the right marketing strategy, every brand has limitless potential.
