Creator's Economy in the Metaverse

Abstract

The creator's economy in the metaverse is poised to revolutionize the retail industry by offering an array of benefits to its stakeholders. In this emerging landscape, creators, brands, and retailers alike stand to gain substantially. Creators can leverage the metaverse's limitless creative potential to craft unique and immersive shopping experiences, fostering deeper connections with consumers. Brands can tap into the metaverse's vast and diverse user base to reach new audiences, drive engagement, and experiment with innovative marketing strategies. It is essential to bring various stakeholders together and to integrate the physical and virtual world together to leverage potential synergies and cross-channel benefits. Retailers should adopt a comprehensive and all-encompassing retailing strategy keeping customers and creators in the center and enabling customers to select their preferred shopping channel throughout their entire customer journey.