Retail in Asia


Taobao launches Metaverse Mall for 618 mid year sale

Taobao has hired a specialist metaversal project team to construct a fully optimised virtual shopping venue which will be open to its customers in advance of the country’s annual 618 Shopping Festival. Shoppers will be able to guide their avatars through 3D stores and participate in a variety of interactive activities using their phones. According to the corporation, the project offers an opportunity to conduct a technical examination of Web3’s immersive shopping scenarios.

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From their VR Shopping Buy+ program to TaoBao Life’s virtual avatars, this fully-immersive metaverse mall is not Web3’s TaoBao development. In this project, one of Taobao’s main goals is to meet the three-dimensional shopping needs of its customers. This is accomplished without the use of any external devices, such as virtual reality headsets.

This optimised approach to virtual retail not only maximises user accessibility, but it also provides an opportunity to use shopper’s e-commerce experience and carve out even more space for lucrative chances.

Web3 is becoming an increasingly attractive alternative for labels to generate revenue, respond to customer demand, and preserve cultural relevance while physical storefronts remain closed, with Shanghai’s recent lockdown challenging the retail industry.

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This mall is believed to become an example of how businesses can use the metaverse in ways that comply with the country’s regulations on cryptocurrency and digital asset trading.