Online consumers are accustomed to watching videos of the specifications of the item to buy, checking photo details, adding to cart, and paying online. They make 85 percent of the people across the globe who do the market online. This buying culture has been institutionalized by the pandemic. The metaverse concept is a game changer in the industry. The mission is to evolve the shopping experience in Web3. It offers a virtual shopping experience targeting a worldwide audience. Consumers can create their own avatars via selfies and immerse themselves to go to the mall, pick up the products they prefer, try on the best clothes, and hop around the place where a wide array of products are displayed. Thanks to the VR technology that makes these things possible, where physical shopping is gamified.
Consumer analyst GfK Marketing Director, Nacho San Martin says that the MENA region dominates the strongest number of Technical Goods Market growth. This is the result of the consumer pulse study made in UAE, Egypt, and KSA. It is geared at understanding consumer lifestyles and attitudes and uncovering the challenges and gaps in this changing environment. Despite Covid-19, economic inflation, and the war in Ukraine, MENA consumers are confident in the economic structure. 2 out of 3 respondents are hopeful of a stable financial status in the coming year.
Exgoland, a Web3 company, a pilot of a metaverse in Dubai is one of the first movers in the MENA region. It offers versatile solutions to real problems that people encounter. The company offers a genuine life within the virtual realm. It uses the revolutionary blockchain in the crypto environment today coined as the SOLANA. Exgoland collaborated with gaming VR, NFT, and AR to create a virtual world for a million users to play, earn, work, participate, attend concerts and even go shopping together. The EXGOLAND uses tokens that are treated as currency, where the users can connect their wallet for the exchanges.
The exchanges are in four forms, Binance, coinbase, KuCoin, and Gate.io.
It has two Purchase mechanisms
Crypto Wallets — Users are provided with two different wallet choices, the Phantom and Glow wallets. These are friendly wallets that enable users to have a safe and fun exploration in the metaverse.
Credit card — Users can purchase in the metaverse using the card in three easy steps
1. Enter email
2. Enter password
3. Enter Credit details
As for the Global marketing consideration, Dr. Christoph Preuss, GfK’s Global and Marketing Intelligence, businesses need to continue to navigate the progressive nature of the market, the uncertainties, and the crisis. There are three trends to watch out for in the long term.
1. The high demand for quality over price
2. Conservation of natural resources and reduced consumption.
3. The metaverse and its application in our daily lives.
Above all, it is important to take note that just like in the normal realm, consumers bank on the trust and the integrity of the products.
