Though still in its infancy, the metaverse represents a significant opportunity for beauty brands, allowing them to meet new customers, advertise in new and immersive ways, and sell a variety of products, according to a new report by Coresight Research.
In the short term, Coresight Research shows that now is the time for beauty companies to begin investing in talent to lead their metaverse charge and to teach internal teams about the platform and other emerging Web 3.0 technologies. It’s important, they advise, that brands do not fall behind in capturing this opportunity.
The report, created exclusively for CEW Members, dives into several segments to help beauty brands understand this new retail and consumer engagement platform. Topics include how to advertise in the metaverse, how to create immersive experiences, the importance of avatars in the metaverse, and the next generation of NFTs.
Build Advertising Campaigns in Virtual Worlds
In the metaverse, advertisers can create entertaining and engaging content targeted at a particular community. As the technologies powering these advertisements continue to strengthen, customers are much more likely to engage with—and share—metaverse-based ads.
Craft Immersive Experiences for Consumers
Beauty brands looking to create engaging, immersive experiences can partner with virtual store platforms to create virtual re-creations of real-world stores, as well as digital storerooms and virtual experiences that are unattainable in the physical world.
Create Virtual Idols
In addition to digital adverts and experiences, beauty brands can create computer-generated avatars to promote their brands and products. Charlotte Tilbury is one of the most recent to do this.
Release NFT Collections and Digital Twins
Brands are tying NFTs to a twin physical product, at no additional cost to the consumer. Tokens and gift-with-purchase (GWP) options are also helping expand brand reach.
Download this co-branded report to access information on how to build your beauty brand in the metaverse.