UK-based retail consultancy, Harper Dennis Hobbs (HDH), is venturing into the virtual world with the launch of a metaverse consultancy. Called ArchiveHDH, the new division aims to assist retailers in navigating Web 3.0, the latest generation of the internet that incorporates machine-based data understanding. By advising retailers on the most suitable platforms for their products and strategies, as well as optimizing the design and functionality of their virtual stores, HDH hopes to help retailers thrive in the evolving online landscape.
The metaverse is a burgeoning virtual space that offers users the opportunity to own, build, and monetize virtual experiences. Platforms like Decentraland and The Sandbox have gained traction in this sector. Recognizing the potential of the metaverse, James Ebel, the CEO of HDH, believes that the consultancy’s expertise in retail can assist brands in making informed investments in this emerging market. With the COVID-19 pandemic prompting retailers to rethink their business models and explore innovative ways to reach customers, more retailers are considering establishing a presence in the metaverse, with some already embracing it as early adopters. HDH plans to support these retailers in selecting the appropriate virtual space to engage with consumers and ensure sustained growth in an increasingly digital world.
Although the metaverse is still in the early stages of adoption, it is rapidly gaining momentum as prominent brands like Facebook (now Meta), Ralph Lauren, and H&M express their intentions to expand into this realm. HDH’s metaverse consultancy aims to guide retailers in capitalizing on this new channel for monetization and long-term business success. As websites and social media once revolutionized the retail industry, the metaverse holds tremendous potential for future growth.
Useful links:
1. Decentraland: Explore Decentraland, one of the leading virtual worlds within the metaverse.
2. The Sandbox: Discover The Sandbox, another prominent virtual world where users can unleash their creativity and monetize their virtual experiences.
