Flipverse: Flipkart Invites You For Virtual Shopping In Metaverse
Flipkart & eDAO have made a virtual shopping mall in Metaverse called – Flipverse. Here your avatars can do virtual shopping. You will get 100 products of 15 brands here, for now.
On Monday, Flipkart launched a week-long shopping event on its metaverse-based Flipverse platform.
As the e-tailer pursues additional sales from the tier-2 or beyond cities, the feature has only been made available to Android customers, who the company claims make up the majority of its customer base.
This holiday season, Tier-2 and higher regions have dominated the market, accounting for around 65% of the overall gross merchandise value (GMV), according to various analysts.
Redseer had earlier anticipated that the holiday sale, which spans from the end of September to the end of October, will bring in roughly $11.8 billion in GMV, or about 28% more than the previous year.
The company wants to recreate a mall-like experience where users can design their own avatars and digitally shop alongside other characters on Flipverse, a joint venture between Flipkart and eDAO.
The first phase of Flipverse will feature roughly 100 products from 15 different companies, including Noise and Puma.
Flipkart stated that there was interest from additional manufacturers wishing to sell their products on the site, while it has not made a decision as to when the next stage of Flipverse will open.
The goal is to incentivize client spending by offering rewards that may be exchanged for both virtual and tangible commodities, such as non-fungible tokens (NFTs), in the future.
As a project under Flipkart LABS, the company’s blockchain and metaverse-focused platform, Flipverse.
Flipkart said it will monitor metrics including the amount of brand tie-ups, customer experience, and the engagement time on the app to gauge its performance.
Customers currently look at a product image for 2 to 5 seconds while shopping online. With augmented reality (AR) options, the average spend time on videos jumps to roughly 45 seconds.
Flipkart anticipates that buyers would spend more than 45 seconds on their purchases once the metaverse-based shopping avatars are in place.
Furthermore, according to Flipkart, shoppers’ desire to buy is often increased by roughly 2.5–3 times by augmented reality and other interactive buying features like Flipverse and live shopping.
Many e-commerce businesses have recently benefited from the live shopping feature’s rising popularity. The primary rival of Flipkart in the nation, Amazon, also introduced Amazon Live last month. It is a live video & interactive purchasing experience.