Metaverse in the Apparel Industry - Analysing Trends, Opportunities and Strategies for Success

Metaverse in the Apparel Industry - Analysing Trends, Opportunities and Strategies for Success

Summary

Metaverse in the Apparel Industry - Analysing Trends, Opportunities and Strategies for Success report offers comprehensive insight into one of the biggest talking points in the apparel industry at present. The report includes insight and analysis on the key trends emerging for apparel brands in the metaverse, alongside UK consumer survey data showcasing consumer sentiment surrounding NFTs.

While the precise nature of the metaverse remains largely conceptual, some practical applications to the global apparel market are becoming more apparent. Creating new digital assets can be exciting for apparel brands, and many are already experimenting with virtual apparel through augmented and virtual reality, gamification, and NFTs.

Scope

• With some countries including China banning cryptocurrencies, global brands will need to differentiate their metaverse offer to suit various markets, understanding the desired end use for different consumers will be crucial.
• Sportswear and luxury brands are best-placed for success, as their aspirational products and strong brand images typically encourage high levels of consumer loyalty, which is key to thrive in the metaverse.
• Brands who engage with a younger audience are wellplaced to succeed in the metaverse, as they often seek new innovations in the digital sphere and find community values important.

• Identify the key approaches innovative brands are taking to explore the metaverse to launch your own initiatives.
• Understand the key strategies for success for apparel brands in the metaverse, including recognising regional, sector and price positioning differences.
• Understand the sentiment surrounding NFTs in the UK and what this means for apparel brands' next steps.