In an insightful dialogue with Metaverse Post, Neha Singh, who's at the helm of Obsess, elaborates on the impact of virtual metaverse stores in revolutionizing the retail sphere.
In Brief
In an exclusive conversation with Metaverse Post, Neha Singh, the head of Obsess, opens up about how virtual stores in the metaverse are transforming the world of retail and online shopping.
Obsess has developed a virtual store platform that has enabled well-known brands like Tommy Hilfiger, Nars, Fendi, Christian Dior, and Ralph Lauren to craft unique virtual shopping environments.
Obsess Founded in 2017 by a former Google software engineer and Vogue's Head of Product, Obsess allows brands and retailers to craft immersive and interactive shopping experiences. Its offerings include virtual reality, augmented reality features, customizable avatars, and 3D settings. Many prominent brands in fashion, beauty, and consumer goods already use its platform to develop engaging online stores. Neha Singh During her discussion with Metaverse Post, CEO Neha Singh reflected on how Obsess was conceived from recognizing the struggles brands faced when trying to replicate the interactive nature of physical stores in digital platforms.
She noted, 'Most e-commerce sites resemble just another Amazon product listing, with minimal tweaks in terms of color, fonts, or images. Obsess aims to fill the gap between engaging customers and digital sales—presenting it in a distinctive, elevated way.'
The growing trend of virtual stores is attracting attention from leading global brands
Singh told Metaverse Post.
One of the standout advantages of 3D-rendered virtual stores is the rich visual experience they provide. Brands can express their identity and creativity in innovative ways, leading to enhanced brand recall and consumer interaction. The storytelling aspect that these virtual environments offer allows customers to envision how to use products effectively.
Additionally, virtual stores bring the exploration-driven shopping behavior typical of physical retail into the online arena. This shift enhances conversion rates, as customers can interact with products engagingly and immersively.
Obsess partners with a variety of sectors, including fashion, beauty, consumer goods, and media, to create virtual stores where customers can deeply engage with products, learn more about them, and complete purchases. Singh mentioned that these collaborations stem from a combination of inbound outreach, proactive efforts, and referrals from satisfied clients. The company boasts long-lasting partnerships with renowned brands such as Ralph Lauren, which have been integral to Obsess's virtual store ecosystem.
'In the last six years, we've enabled more than 200 virtual storefronts, attracting tens of millions of shoppers who interact with and buy products. We leverage this rich experience to make each subsequent virtual store even more user-friendly and engaging than the last,' Singh explained. Charlotte Tilbury Having witnessed over 85 million consumer interactions, Obsess has accumulated valuable insights into how consumers behave and engage within 3D shopping realms. The firm gathers first-party data through fun quizzes and games in its virtual stores, sharing anonymized data with brand partners to enhance their understanding of consumer preferences.
Obsess has also reported impressive success metrics, with one luxury brand recording an average order value (AOV) that was 111% higher in its virtual setup compared to its conventional e-commerce platform. Another luxury partner found a 74% increase in customer dwell time within its virtual storefront as opposed to its traditional online shop.
Singh said.
The innovative technology powering Obsess's virtual landscapes
Recent advancements in technology have inspired thrilling new methods for consumers to interact with brands. Obsess has recently unveiled an immersive virtual store that customers can experience on desktops, mobiles, or the Meta Quest 2 VR headset. This launch signals a new era of online shopping, allowing users to fully enjoy and explore these environments in VR as well as on other devices.
Another significant innovation is the Branded Avatars feature, a unique industry-first technology allowing brands to customize the appearance, personality, and style of shopping avatars, thus crafting unique metaverse experiences for their e-commerce platforms. This feature permits consumers to tailor every aspect of their avatar—from skin tone to wardrobe—while also enabling friends to join their shopping adventure in a virtual store, mimicking the social interaction found in real-life shopping.
Like with any burgeoning technology, there’s a learning curve in adapting to virtual environments, particularly regarding widespread adoption. Younger shoppers, who are accustomed to engaging through smartphones and digital platforms like video games and social media, tend to adapt quickly. However, Obsess has observed increasing participation from various age groups in its virtual shops, which has, in turn, motivated more brands to employ the platform into their primary selling strategies, as stated by Singh. partnered with Alo Yoga Obsess is firm in its belief that virtual shopping experiences are the future of retail; they represent the merging of digital commerce with tangible interactivity and emotional connection. As such, virtual stores are likely to become essential for brands aiming to stand out and attract a loyal consumer base.
'Looking forward, I anticipate AR- and VR-enabled e-commerce will become ubiquitous, not only among retailers but also in experience-driven sectors like hospitality and entertainment. Brands will increasingly explore the creative boundaries offered by this technology, crafting imaginative spaces with gamification elements that would not be feasible in physical stores,' she added.
The future of consumerism for upcoming generations
Obsess focuses on cutting-edge brands and retailers from various sectors—including high-end fashion, consumer goods, media, and entertainment. Each brand has its own demographic, and Obsess collaborates closely with each partner to create memorable, highly tailored shopping encounters.
It's important to highlight that Gen Z and millennials have considerable buying power, which is only set to increase, and these younger demographics show a pronounced enthusiasm for shopping in virtual settings.
Singh shared.
A proprietary study conducted by Obsess revealed that nearly three-quarters of Gen Z consumers have purchased digital items through video games, with 60% stating that brands ought to have a presence on metaverse platforms. This demographic spends substantial time socializing online and expects to interact with brands and products in virtual settings as they grew up entrenched in video games and esports. For many younger shoppers, virtual spaces resemble the essence of a physical mall—a hub for socializing, engaging, and shopping.
As technological advancements progress, we can anticipate other industries, such as travel and hospitality, to start incorporating AR and VR experiences into e-commerce. Virtual stores represent a new paradigm, merging the realms of digital commerce with physical engagement and emotional resonance, thus likely shaping how future generations approach shopping.
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