- Alibaba has launched a new immersive luxury shopping experience in the metaverse.
- Dubbed the Tmall Luxury Pavilion, the luxury shopping platform has been upgraded to host an AR fashion show accessible via a brand-exclusive gate pass Meta Pass.
- Alibaba’s immersive shopping experience currently offers try-on for products, digital avatars and digital collectibles.
Alibaba has launched the Tmall Luxury Pavillion, a deeper immersive luxury shopping experience. The shopping platform will host an AR fashion show accessible to select brands. The platform will be updated with a series of digital upgrades and events this month.
China has been one of the leading early adopters of the metaverse, with its largest technology companies driving the adoption.
Alibaba’s investment in the extended reality market picked up steam at the end of March this year after leading AR glasses maker Nreal’s $60 million funding round.
And now, the company seems set on utilising that technology to onboard luxury brands to its intuitive metaverse platform.
Commenting on her company’s new immersive luxury shopping experience, Janet Wang, head of Alibaba’s luxury division said: “Before “metaverse” became a buzzword, we had already transformed this buzzword into a commercial reality.”
Wang was referring to the Tmall Luxury Pavillion, which marked its 5th-anniversary last week.
Leading brands like Richemont, Kering, LVMH and OTB have already showcased their products on the platform allowing visitors to try the, on in an immersive XR experience.
The company has now scheduled an AR fashion show in collaboration with Vogue China and a list of top artists on September 22.
The company will hand some of the followers of fashion within Alibaba’s ecosystem a free Meta Pass, giving them entry into the company’s metaverse.
“The digital world can provide consumers with the same, or even better, shopping experiences and luxury-brand identities than in the real world,” Wang added.
The metaverse has become a focal point of retail brands, especially those involved in the fashion industry.
Companies are leveraging its rapid adoption by consumers to form deeper connections with their customers whilst exploring alternative revenue channels. Nike has already demonstrated how companies can achieve success by combining their brand authority with NFTs.
Overall, the metaverse is predicted to reach a market value of about $5 trillion by 2030 according to a report published by Mckinsey in June.
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