The future of luxury e-commerce: why would anyone spend thousands of euros for a digital item they can't use in the physical world?

It's a completely valid question (which many of us will get from our mother). However, there are a number of reasons why the digital luxury goods are becoming increasingly popular, and can determine the future of ecommerce.

As the world becomes increasingly digitised, it was only a matter of time before the luxury brands begin to explore the metaverse. The metaverse is a virtual world where people can interact with each other and with digital objects, and it is becoming an important part of the online world. For brands, this is a way to launch special products and connect with their customers in new and exciting ways.

1. First, digital luxury goods are often exclusive and limited edition. Like physical luxury goods, the rarity and exclusivity of a digital luxury item can increase its appeal and value. For example, the recently launched limited edition virtual trainer by Gucci was highly sought after by collectors and enthusiasts. The unique digital design and the fact that it was only available for a limited time in the metaverse made it a rare and valuable item. Similarly, a digital item could be linked to a physical item and customers could receive an exclusive NFT when making a physical purchase or vice versa.
2. Secondly, owning a digital luxury good can be a status symbol. As more and more people spend time in the metaverse, the desire for status and prestige is also moving into this digital world. Owning a digital luxury item can be a way for people to show their wealth and taste in the virtual world, just like owning a physical luxury item in the real world.
3. Third, digital luxury goods can be an investment. As we have seen with the rise of NFTs, digital assets can have significant value, especially if they are linked to a particular brand or artist. By investing in a digital luxury good, individuals can potentially benefit from its increasing value over time.
4. Finally, digital luxury goods can be a way to support a brand or artist one admires. By purchasing a digital luxury item, consumers can directly support the creative work of designers and artists in the metaverse. It is a way to appreciate and support the creative work of these people.

The future of ecommerce. A new way to attract customers

The future of ecommerce in the metaverse is still uncertain, but it is clear that luxury brands are beginning to notice this new trend. As more and more people spend time in the metaverse, luxury brands will need to find new ways to interact and connect with consumers in this digital world.

One potential growth area for luxury brands in the metaverse is virtual testing. As more and more people shop online, they are increasingly interested in being able to see what products will look like on them before making a purchase. Virtual trials could be a way for these brands to offer this service in an immersive and interactive way.

Another area of growth for luxury brands in the metaverse is the virtual events. As we have seen with the virtual fashion shows that have taken place in the metaverse, this digital world is a great platform for brands to create unique and engaging events that are designed to entertain and inform consumers.

Overall, the metaverse is a new and exciting frontier for luxury brands. As more and more people spend time in this digital world, luxury brands will need to find new ways to engage and, while the idea of buying a digital luxury good may seem odd to many, there are a number of reasons why people are willing to invest in these items. The rarity and exclusivity of digital luxury goods, their potential as a status symbol and investment, and the opportunity to support digital artists and designers pave the way for the execution of new business models.