Metaverse in UAE: Shop virtually, try products before purchasing in this new marketplace

Users can also purchase tickets and sign up for events and virtual concerts



Supplied photo
Supplied photo
by

Ismail Sebugwaawo

Published: Thu 30 Jun 2022, 4:49 PM

A new metaverse shopping experience, where a customer can virtually walk through a store, interact with people, and choose and feel the product before buying, has been launched in the UAE.

Magnati, a payment solutions industry, on Thursday, launched ‘Magnati-MetaV’, the region’s first metaverse marketplace that enables users to experience e-commerce in a new, immersive way.

The platform seeks to shift behavioural patterns from “electronic commerce” to “experiential commerce”, with a new virtual world that provides users with richer visual and sensory information, as well as improved quality of information.

The platform aims to accelerate the move from two-dimensional to multi-dimensional online commerce by enabling consumers to shop, learn, play games, attend concerts online.

Retailers also have a fully immersive way to reach their customers. Brands can co-create virtual stores in an online environment, enabling consumers to see and feel retail offerings through a multi-dimensional experience.

Users will be able to explore, pick up and purchase products across a mix of retail categories, including fashion, groceries, gaming, technology and more. They can also purchase tickets and sign up for events, virtual concerts, sporting events and educational courses.

“This shopping beyond space and time will enable complete accessibility, allowing shoppers to wander through virtual stores, try on clothes online through a 3D fitting room and even get a 360-degree view of what outfits look like,” Ramana Kumar, CEO of Magnati said during the launch of the metaverse platform in Abu Dhabi.

“Customers will even be able to get a beauty consultation from a personal advisor and try on accessories, sunglasses and make-up to check how the item looks and feels,” he added.

He explained that virtual shopping, digital avatars and outfit generator apps are just some of the engaging experiences that will be a part of the metaverse space.

The experiential commerce platform delivers multi-fold benefits to online merchants through solutions that address commonly faced e-commerce challenges. By providing merchants with tools that enable customers to virtually experience a product, Magnati-MetaV aims to help retailers reduce sales cancellations, returns and exchanges.

Payment for products and services on Magnati-MetaV can be made through cards, wallets and other existing digital form factors.

“Today’s e-commerce is built on 2D user experiences, which leads to challenges around sales returns, cancellations and customer disappointment,” said Kumar.

“Enabling the customer to experience the product or service drastically reduces these challenges.”

Kumar noted that Magnati-MetaV has partnered with more than 30,000 retailers and merchants.