Harper Dennis Hobbs (HDH) has announced its plans to launch the first strategic consultancy designed to help retailers who want to expand into the metaverse.
The new arm of HDH’s retail vision will focus on how companies can best operate in Web 3.0 – the third generation of the internet, which uses machine-based understanding to provide a data-driven environment.
Consultants will offer advice to retailers on what platform is best suited for their products and strategies. They will also advise on the look and functionality of retailers’ virtual offerings.
HDH noted there are already a number of ‘worlds’ running, including Decentraland, a virtual destination for digital assets, and The Sandbox, a virtual metaverse game where players can build, own and monetise their virtual experiences.
HDH chief executive officer James Ebel believes the company’s insights and understanding of retail will help brands make the right investments in the metaverse.
“The pandemic has played a role in encouraging retailers to embrace change and look to adopt new methods for growing sales and brand awareness. This has led to many more retailers considering creating a presence in the metaverse and there are even some “early adopters” he said.
“HDH plans to support retailers in adopting the right space in the metaverse, understanding what will resonate with and attract users, to ensure consumers engage with their brand in the virtual world.
“This is a completely new channel for retailers, like websites and social media once were, and there is clearly an appetite for retailers to find ways to monetise the metaverse and ensure continued business growth in an increasingly online world.”