Retail giant Walmart is entering the metaverse by launching two experiences on the gaming platform Roblox.
Key Details
- Walmart is attempting to broaden its audience to bring in younger shoppers.
- Walmart’s marketing chief William White says the company will use Roblox as a testing ground, as it considers other moves in the metaverse and beyond.
- The experiences will feature a blimp that drops toys, a music festival with hot artists, a bunch of different games, and a store of virtual merchandise, or “verch,” which matches what customers may find in Walmart’s stores and on its website, according to CNBC writer Melissa Repko.
Why it’s news
Walmart is entering the Metaverse today with two Roblox experiences: Walmart Land and Walmart’s Universe of Play.
Walmarts advancement into the metaverse is the first step at reaching a broader audience including younger shoppers and avid social media users.
“How are we driving relevance in cultural conversation? How are we developing community and engagement? How are we moving the needle from a brand favorability standpoint with younger audiences?” says Walmart’s marketing chief William White. “That’s what we’re trying to accomplish here.”
For now, the company will not be making any profits from its Metaverse experiences and is mainly just using it as a nuge for the players to shop at the retail store outside of the game.Universe of Play has games that feature items from Walmart’s top toy list for the holiday season—like Razor scooters and Paw Patrol and Jurassic World characters—a potential nudge to get Roblox users to ask for them. Walmart Land has an obstacle course of oversized items from the retailer’s Gen Z-focused beauty brands, such as skin-care products from Bubble and makeup from Uoma by Sharon C, and a virtual dressing room with apparel from its exclusive fashion lines, writes CNBC.
Walmart’s other ventures
This isn’t the retail giant’s first venture. Recently, Walmart has been adding multiple notches to its venture belt.
The company recently announced that it was working on adding a way to bank at its stores. It officially partnered with One, a Fintech venture, to offer modern and affordable financial solutions for both customers and employees.
The grocery-store chain plans to launch its digital bank accounts for millions of employees and customers soon with a test trial coming for select numbers later this month.
