Affiliation:
1. Chitkara Business School, Chitkara University, India
2. Kurukshetra University, Kurukshetra, India
Abstract
Customer engagement and customer retention are closely linked, and the metaverse offers a unique opportunity for brands to build lasting relationships with their customers. Metaverse allows brands to create a virtual representation of their stores and to interact with customers in that space. The metaverse offers a platform for community building, where brands can create a sense of belonging and connection among their customers. Brands can create virtual events, social spaces, or games that bring their customers together and foster a sense of community. By building a community around their brand, customers are more likely to feel connected to the brand and to each other, which can increase the likelihood of repeat purchases and brand advocacy. The metaverse concept has been popularised in science fiction and video games but has gained momentum in recent years as a potential next step for the internet.