Retail spatial evolution: paving the way from traditional to metaverse retailing
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This paper examines the evolution of retailing, i.e. from traditional to electronic to metaverse retailing and sheds light on the ways metaverses influence that evolution. The spatial dimension is taken into consideration as retailers could operate simultaneously in three different, but intertwined spaces. Particular emphasis is paid to key promotional aspects and we highlight the key challenges and opportunities faced by traditional retailers, e-retailers and metaverse retailers. For the metaverse phenomenon, the authors analyse Second Life and a range of findings emerge. One key finding is that retailers need to employ a holistic and overarching approach when devising their promotional strategies, especially if they aim to operate at the metaverse stage as well. At the end, the authors recommend a range of future research avenues and note the immediate need for policy development dealing with the metaverse phenomenon.
KeywordsRetailing Metaverses Second Life Marketing Promotion
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