Socialising and
brand events in
the Metaverse

Socialising and brand events in the Metaverse

The Metaverse has emerged as a dynamic space for social interaction. Through avatars and bespoke virtual spaces, brands are creating new spaces where users can foster richer connections, engage in life-like interactions, and attend events with others.

The Metaverse presents opportunities for socialising in a manner that feels authentically natural, akin to interactions in physical spaces. Interestingly, 8% of respondents expressed a preference for socialising in the Metaverse over traditional physical and online methods, with the 18-34 age group showing a higher inclination.

8%

of respondents expressed a preference for socialising in the Metaverse over traditional physical and online methods

If this is the case now, what will this figure be in five years’ time?

Fashion and beauty brands lead the way

Metaverse Fashion Week debuted in 2022, bringing fashion brands, retailers, and designers together to showcase their collections virtually. Renowned names like Coach, Adidas, Tommy Hilfiger, alongside digital fashion pioneers such as DressX and The Fabricant, participated in the 2023 event. Hosted in Decentraland, a decentralised virtual world, the four-day event featured digital fashion shows, virtual screenings, immersive shopping experiences, and opportunities to unlock NFTs and discounts for use in physical stores and online.

Metaverse Fashion Week coincided with physical fashion week events. Following the success, the beauty industry sought to carve out its own space and introduced Metaverse Beauty Week.

Metaverse Beauty Week spanned multiple platforms including Decentraland, Roblox, and Spatial. Leading beauty brands such as Glossybox, Neutrogena, and Lush, among others, focused on themes such as the future of beauty through a digital lens, challenging traditional beauty norms, and emphasising self-expression.

Lush organised a virtual store opening within the Metaverse, while Glossybox parcels descended from the sky, offering users a chance to win free physical Glossybox products by directing users back to their website. Glossybox reported that 49% of Metaverse attendees clicked through to their website, demonstrating the opportunities for brands engagement and cross promotion between the virtual and physical worlds.¹

¹ Unpacking Metaverse Beauty Week 2023

Key takeouts for brands:

Brand events in the Metaverse can open new paths to customer acquisition, loyalty and growth.
While engagement across some Metaverse experiences may not lead to direct sales, they function akin to traditional loyalty programmes, incentivising interaction with brands.
The impact of these virtual experiences can extend beyond sales metrics to positive press coverage, social media engagement, and even serve as a catalyst to viral trends.
Virtual experiences centred on socialising should emphasise authenticity and engagements that foster genuine interactions rather than solely serving as an advertising platform.

Key takeouts for brands:

Brand events in the Metaverse can open new paths to customer acquisition, loyalty and growth.

While engagement across some Metaverse experiences may not lead to direct sales, they function akin to traditional loyalty programmes, incentivising interaction with brands.

The impact of these virtual experiences can extend beyond sales metrics to positive press coverage, social media engagement, and even serve as a catalyst to viral trends.

Virtual experiences centred on socialising should emphasise authenticity and engagements that foster genuine interactions rather than solely serving as an advertising platform.