Brands Go Bad?

What is life going to be like in the Meta-world? Who is in the Meta-world? What kind of experiences are people looking for in the Meta-world?

Twice as many men vs. women are more interested in the Meta-world. Younger generations have no issues with purchasing real estate and NFT’s to hold, store, display, and sell, but how about actual clothing in an e-commerce world?

Many see something about the “high-end” business as the guiding light but the massive business opportunity is to sell to the masses. At Macy’s in the mid-1980s, the idea was to scale up. Carry more high-end brands to bring in a different consumers. It was a thoughtful shift to rebrand Macy’s like Bloomingdales. It didn’t work out that well.

When I saw this Instagram announcement that Balenciaga, Thom Browne, and Prada will be the first brands in a Meta-Virtual Fashion Store, I thought, I am pretty positive that your customer is not hanging out in the Meta-world. They certainly aren’t buying $3200 jackets. There might be a few, but is there ROI on the cost?

Is this going to kill luxury brands? Who else is going to do this? Most people still want to buy in stores, and that data is clear. Almost half of Generation Z would rather shop in a store.

The fashion industry is ripe for change. New designers, smaller brands, new looks, and I am going to just put it out there, I think they won’t find their success in the Meta-world.