Fashion in the Metaverse

: dressed for success

Abstract

Interest in the Metaverse has been rising, with the fashion industry surprisingly becoming one of the first to adopt digitalization and virtual reality using new business models. However, considering that the Metaverse is still at an early stage, it is challenging to define directions and opportunities. This dissertation aims to understand how the fashion industry can benefit from the Metaverse and what should be considered when implementing this technology trend. This includes strategic guidelines for fashion brands to approach the Metaverse based on characteristics such as brand size, target, and goals. With input from ten experts and a survey, it was possible to identify the most important aspects influencing fashion companies in the Metaverse and different opportunities to create value for customers. These include customer experience and engagement, new sources of revenues, and the potential to become a new retail channel in the coming years, subject to limitations associated with consumer adoption and Metaverse technologies.

Date of Award	26 Jun 2023
Original language	English
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Peter V. Rajsingh (Supervisor)