Walmart is now joining the virtual world via Roblox Metaverse and aims to target the teenage demographic of the US to drive up its sales.
The retail behemoth said on Monday that it will be releasing two immersive online games alongside Roblox, a metaverse mega-platform that is incredibly well-liked by young children. Walmart said that it is aiming for the next generation of consumers because Covid-19 changed consumer purchasing patterns and drove up e-commerce sales.
Walmart Land will feature many different attractions
The “Stranger Things” actor Noah Schnapp will participate in a Netflix trivia experience in “Walmart Land,” which will also have a virtual dressing room and a music festival with well-known performers. Additionally, it will market “verch” for avatars that correspond to actual goods sold in the shops. The second attraction, Walmart’s Universe of Play, will provide interactive games with figures from some of its best-selling Christmas toy lines, including Paw Patrol and L.O.L. Surprise!
The retail company is particularly interested in attracting Gen Z to VR. Madison Beer and Kane Brown will play at Walmart Land’s Electric Fest. Products like afp4, Halsey’s beauty collection, and YouTubers Brooklyn and Bailey’s skincare collaboration with the company are available in its virtual changing room. According to a news statement from the firm, their chief marketing officer, William White, is aware that customers are spending “loads of time” on Roblox.
Roblox Metaverse hasn’t been that successful this year
The metaverse is led by the game platform Roblox, launched in 2004. However, internet behemoths Facebook, Microsoft, and Epic Games have announced major ambitions to join the buzz. When Roblox started trading last March, the firm was quickly valued at $45 billion.
Omar Dessouky, a Bank of America analyst, stated earlier this year that “We think teenagers, and potentially adults, could eventually view Roblox as a multi-purpose platform, similar to how social networks were viewed as such as they grew beyond their core university student demographic.” Despite the hype around the metaverse, shares of Roblox have decreased by approximately 64% so far this year. In today’s trade, its stock has increased by almost 2%.
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