Aware of the digital world's current and future engagement and immersion levels, fashion brands are now strategically investing in metaverse projects to position themselves in this evolving industry. This transition to the digital sphere results from recognizing the differences between the physical and virtual worlds regarding socio-economic dynamics. Brands see the perceived value-added experience as an incredible opportunity to improve their omnichannel strategy by embracing innovative and unique marketing activities. In light of this, this research investigates collaboration scenarios between the fashion industry and the metaverse (RQ1) and their effects on the Triple Bottom Line (RQ2). This work aims to enrich the published literature with a multi-step case analysis, to collect examples of initiatives launched, and with semi-structured qualitative experts’ interviews, to deepen some aspects of them. Findings show the metaverse is a channel for generating new revenue streams, boosting existing channels, and improving brand image and reputation. To achieve this, fashion brands are adopting different strategies, which are determined mainly by the marketing positioning of the firm. Therefore, the collected initiatives were grouped into four identified clusters: luxury, premium, fast, and sports apparel fashion. In general terms, these strategies resulted in having a positive impact on the economy, boosting brands’ growth and employment rate in selected countries; on the environment, reducing carbon footprint by shifting fashion-related activities to virtual spaces and by limiting physical production through digitalization; and lastly on society, improving the overall well-being by offering higher-than-average salaries and by fostering diversity, inclusivity, and education.
Consapevoli degli attuali e futuri livelli di coinvolgimento del cliente nel mondo digitale, i brand di moda stanno investendo strategicamente in progetti nel metaverso per posizionarsi in questo settore in evoluzione. Questa transizione verso la sfera digitale è il risultato del riconoscimento delle differenze tra mondo fisico e virtuale riguardo le dinamiche socio ed economiche. Le aziende vedono l'esperienza immersiva come un'ottima opportunità per migliorare la propria strategia omnichannel implementando strategie di marketing innovative e uniche. Di conseguenza, questo studio analizza gli scenari di collaborazione tra l'industria della moda e il metaverso (RQ1) e i loro effetti sulla Triple Bottom Line (RQ2). Questo lavoro si propone di arricchire la letteratura pubblicata con un'analisi multi-step di casi, per raccogliere esempi di iniziative realizzate, e con interviste qualitative semi-strutturate a esperti, per approfondirne alcuni aspetti. I risultati mostrano che il metaverso funge da mezzo per generare nuovi flussi di entrate, rafforzare i canali già esistenti e migliorare l'immagine e la reputazione del brand. Nel conseguire in questo intento, i brand di moda adottano diverse strategie, che dipendono principalmente dal loro posizionamento sul mercato. Le iniziative raccolte sono state quindi raggruppate in quattro cluster distinti: luxury, premium, fast fashion e abbigliamento sportivo. In termini generali, queste strategie hanno avuto un impatto positivo sull'economia, aiutando a far crescere i brand e il tasso di occupazione in alcuni mercati; sull'ambiente, riducendo le emissioni di CO2 spostando le attività legate alla moda in spazi virtuali e limitando la produzione fisica attraverso la digitalizzazione; e sulla società, migliorando il benessere generale grazie a stipendi superiori alla media e alla diffusione della diversità, dell’inclusione e dell’istruzione.
Fashion metaverse marketing: exploring current opportunities and future avenues
COLETTO, FEDERICA
2022/2023
Abstract
Aware of the digital world's current and future engagement and immersion levels, fashion brands are now strategically investing in metaverse projects to position themselves in this evolving industry. This transition to the digital sphere results from recognizing the differences between the physical and virtual worlds regarding socio-economic dynamics. Brands see the perceived value-added experience as an incredible opportunity to improve their omnichannel strategy by embracing innovative and unique marketing activities. In light of this, this research investigates collaboration scenarios between the fashion industry and the metaverse (RQ1) and their effects on the Triple Bottom Line (RQ2). This work aims to enrich the published literature with a multi-step case analysis, to collect examples of initiatives launched, and with semi-structured qualitative experts’ interviews, to deepen some aspects of them. Findings show the metaverse is a channel for generating new revenue streams, boosting existing channels, and improving brand image and reputation. To achieve this, fashion brands are adopting different strategies, which are determined mainly by the marketing positioning of the firm. Therefore, the collected initiatives were grouped into four identified clusters: luxury, premium, fast, and sports apparel fashion. In general terms, these strategies resulted in having a positive impact on the economy, boosting brands’ growth and employment rate in selected countries; on the environment, reducing carbon footprint by shifting fashion-related activities to virtual spaces and by limiting physical production through digitalization; and lastly on society, improving the overall well-being by offering higher-than-average salaries and by fostering diversity, inclusivity, and education.| File | Dimensione | Formato | |
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https://hdl.handle.net/10589/213712