The Metaverse as a Market Place

Abstract

Last decade has seen technology becoming an integral part every business to help them stay relevant in this era of transformation. An era of 2000's saw E-commerce taking all the physical stores by surprise and then physical stores went for a transition by offering better products with richer experience. With the technology spreading its wings in the era of AR/VR, metaverse is one such transition to help companies to engage their customers. In this chapter, we would like to focus on the transition of the business and understand as to how it is happening. Moreover, the transition of E- commerce to V- commerce will be discussed and its impact on the participating companies. AR/VR will also result in an immersive, interactive 360-degree dynamic shopping experience providing customers with a hyper-personalized experience bringing a strong emotional connect. This chapter brings a better insight of as to how the metaverse (AR/VR) will bring more levels of the engagement among the customers so as to have better business realization.

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