Meta-Retailers Headed to the Metaverse

The Lempert Report
March 11, 2022

Phil: Let me head back to the metaverse for a moment what, what we're seeing, and this came out of, this came out of the Motley fool where, what we're seeing is more people getting involved is you pointed out, in the metaverse more brands than ever before four, and they give three basic reasons for that. The first reason is the generation Z has grown up with metaverse like economies. We've talked a lot about how the metaverse today, you know, is really a throwback to second life. 

Phil: It wasn't nearly as advanced a lot of gaming that's involved, but there's a really good point, that these generation Z Zers, born between 1997 and 2012 were the first digital native generation. And the generation Z, sorry, millennials were the first digital native generation and generation Z is the first metaverse native generation. They've been playing Minecraft from Microsoft since 2011. And they point out that retailers, you know, have to go where customers are, that you can't depend on customers coming to your stores. Number two, the retailers have a chance to create something interesting. Which I think in today's world has never been truer than ever before. And the third one is that meta retailers require daily input, but can return big rewards just as we talked about with NFT dining, with some of these rewards that, that are coming out that, you know, I think, I think that the, I think that the metaverse, wallet's very confusing to a lot of retail to a lot of people I think it's gonna hit this time. What do you think? 

Sally: I agree with all of these points that have been made here, particularly the first point about, about the generational difference. You know, I've got a son who is gen Z and I've got a daughter that's gen alpha. So, and both of are very dialed in and connected to the digital world. And, and the metaverse is very exciting for them, these, and, and, you know, that leads to the next point that, you were talking about, about big box stores becoming more inviting, because, you know, if, if Walmart is gonna be in the meta, Walmart can be a much more exciting and more creative environment than your regular Walmart that you go into. 

Phil: Yeah, absolutely. And the sky's the limit. So it's something that we're gonna keep watching very carefully and keep on reporting.