Australia's retail sector could see a major overhaul as companies explore the use of the metaverse to create brand awareness and enhance the shopping experience.
The metaverse enables consumers to interact with digital avatars, traverse virtual shopping areas, and engage with fellow avatars and retail employees.
Global brands like Gucci are already making moves in the metaverse, offering virtual versions of their products alongside physical goods.
While the metaverse presents opportunities for improving customer engagement and well-being, there are privacy and security concerns to address.