Beginning this week, retail giant Walmart will launch two distinct virtual reality (VR) experiences as part of its newest campaign, venturing into the metaverse.
The first is Walmart Land, and the second is Walmart's Universe of Play, a gaming platform that uses Roblox.
Walmart Wants to Shake Up its Buyers' Shopping Routine
According to CNBC news, reported by Forbes, the company is reportedly experimenting with new ways to engage customers and shake up their buying routines in the wake of the pandemic. It is attempting to stimulate customer participation in social media, mobile applications, and online gaming platforms.
Walmart group executive William White has stated that the company is planning to utilize the online game Roblox as a testing ground. The platform offers other potential moves in the metaverse and beyond.
He claimed that the designed experiences are crafted with the future generation of consumers in mind. Gen Z consumers, defined as those 25 years old or younger on average, are the focus of the company's newest marketing efforts.
White stated that he anticipates that the company will improve due to the new project.
What's In It for the Roblox Players?
The Roblox players can earn tokens and other rewards redeemable for virtual merchandise on the said online game.
Brands such as LOL Surprise and Skullcandy headphones were included in the tests based on their appeal to Roblox's younger gaming demographic.
White stated that the firm would not profit from Walmart's immersive experience. However, the retail group might earn money by charging a brand for inclusion.
Related Article: The Metaverse Explained: What It Is and Why You Should Care
The New Strategy Is a 'First' for Walmart
White's approach is supposed to contribute relevance to the cultural conversation. This will develop the community and the engagement between them. The project also aims to tap younger consumers.
In January this year, a CNBC report confirmed that the retail company initiated trademark applications to venture into the metaverse. There were seven separate applications filed in total.
Some of the trademarks are associated with the purchasing or selling of virtual products, as well as the provision of users with virtual currency and non-fungible tokens (NFTs). The plan is to create its own cryptocurrency, as well.
Back then, the retail group had already hinted about investigating and launching advanced, novel ways to influence future shopping experiences.
Walmart and its Engagement with the Social Media
On many occasions, Walmart held live-streaming events via TikTok and YouTube. These are made possible with a collaboration with Meredith, a media and marketing company that owns several publications like Allrecipes, Parents, and Better Home & Gardens.
Walmart has already launched an augmented reality-powered service on Pinterest, too. The technology enabled consumers to visualize how furniture would look in their own homes before purchasing it.
Also Read: Walmart Trademark Filings Show Planned NFTs and Cryptocurrencies
This article is owned by Tech Times
Written by Trisha Kae Andrada
