UNDERSTANDING METAVERSE TRENDS AND APPLICATION- A CASE STUDY APPROACH

Abstract

Purpose: The paper attempts to understand the current trends around Metaverse and how companies are leveraging metaverse as a tool to improve processes and engage with customers.

Research Design & Methodology: The current research is exploratory in nature to provide an understanding of how metaverse as a tool is being used by companies to grow and develop their businesses as well as establish a connection with the consumers. The authors have explored the various prominent companies across sectors to understand the how these companies are using metaverse as a tool to amplify their business and establish connection with their customers. Qualitative research method is used for the purpose of the research.

Findings: The research identifies certain common areas in which organisations are using metaverse such as use of metaverse for engagement andcommunity building, socialising with friends in the digital space, creating the ‘esteem’ factor by launching limited edition digital products, improving processes and supporting medical treatments.

Limitations: The research paper doesn’t include consumer feedback. As a part of future research project, consumer experience around metaverse can be evaluated. In addition, understanding the effectiveness of promoting any brand in the metaverse can be evaluated across product categories.