In case you haven't noticed, the world is changing. The rise of virtual reality and its ability to create immersive experiences is having a huge impact on all forms of media, from television shows to movies to video games.
But it's also impacting retail brands like Nike and Adidas, which are looking at VR as a way to connect with their consumers in new ways. These brands are doing this by creating immersive experiences using VR technology instead of relying solely on traditional advertising campaigns.
Nike is leveraging VR in a way that has the potential to impact the bottom line.
Virtual reality is a technology that has been around since the 1990s but only recently has become more widely available and affordable enough for businesses like Nike to integrate into their marketing strategies.
In November 2019, Nike opened its innovation store in New York City on Fifth Avenue as a way to introduce customers to new products. The store makes it possible for customers to try on shoes using a VR headset before making a purchase—allowing them to experience the product without ever leaving their homes or offices.
The ability to shop without having to physically visit a store is also beneficial for Nike because it enables them to reach more customers globally who may not be able to get away from their jobs or homes and make it out into the physical world where stores are located.
This new approach could change how companies like Nike sell products online, making it easier for them to understand what customers want (and don't want).
How does the metaverse strategy translate into sales?
The Nike Metaverse "Nikeland" enables customers to interact with the brand in a deeper, more personal way than ever before. By working with Roblox, Nike has created a world of innovation and excitement for its customers. You can customize your avatar with Nike gear and allow it to experience sports in novel ways by creating games that allow you to play tag on trampolines or floor is lava.
Roblox defines itself as a technology company that has developed a platform to create and enjoy games. This move will help Nike connect with younger customers and allow them to experience the brand in a new way as they play.
Why does it matter?
Other companies may choose to use Nike's Metaverse strategy. Consumers are responding favorably to the company's use of VR, which has the potential to affect the bottom line. It's clear that people are taking notice of how these virtual experiences can add value for marketers and customers alike; more than 21 million people have explored "Nikeland."
If you're looking for inspiration on how your brand could use VR to drive engagement and sales, look no further than Nike.
With the launch of Nike's Metaverse "Nikeland", the brand has demonstrated that VR can be used to drive real business results. Nike is positioning itself as a leader in the sporting goods industry by leveraging technology to create new experiences that deepen customer engagement.
Ready for some VR brands' metaverse and VR commerce to roll out?
Nike has been using augmented reality technology with its Nike Fit app to better market its products. The company is still developing new experiences powered by virtual technologies, and it has a history of being the first to launch VR commerce experiences.
The Nike VR experiences are paying off. They're driving traffic to stores, driving sales and generating positive word of mouth for the brand.
Let's look at how they did it:
Nike created an innovative, interactive retail space in New York City that has generated buzz around the product line.
Nike designed a Roblox-based virtual reality experience, which is popular among young consumers.
In the coming years, we'll begin to see more Nike VR experiences like these. It may be a matter of time before we see VR commerce, with shoppers making purchases through VR, hit American soil.
Nike’s experiments with AR and VR have paid off, suggesting there is much to come in the future, as more brands explore how these technologies can be used to engage customers.
As such, other retailers who want to keep pace with consumer technology trends would do well to follow Nike's lead.