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Impact of the metaverse on the retail industry
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This paper examines the impact of the metaverse on retail, how it can be used successfully, and
the extent to which technical, legal, and social challenges may limit its application. The results
of the literature analysis and expert interviews carried out in this thesis show that the metaverse
can close the gap between the physical and virtual worlds. Currently, it is used in retail primarily
as a marketing tool. Access to the metaverse is indeed possible with current technology.
However, further development of software and hardware solutions is required for a more user friendly application. Similarly, legal, and social challenges have not yet been fully resolved
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Metaverse Second life Technology Augmented reality Virtual reality Mixed reality Extended reality Retail industry E-commerce M-commerce Marketing Strategy Implementation Data security Privacy Laws