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<ul><li><keyword id="6354742" type="General" weightage="100" keywordseo="flipkart" source="Orion">Flipkart</keyword>’s metaverse shopping space <keyword id="15279828" type="General" weightage="20" keywordseo="Flipverse" source="Orion">Flipverse</keyword> will allow customers to access various digital collectibles. </li><li>Brands including Puma, Noise, Nivea, Lavie, Tokyo Talkies, Campus, Ajmal Perfumes are participating in the Flipverse. </li><li>Phase one of Flipverse is an <keyword id="6355645" type="General" weightage="50" keywordseo="android" source="Orion">Android</keyword> only experience, and will be live for a week. </li><li>The metaverse market value is expected to reach $1.3 billion by 2030. </li></ul>Flipkart, one of India’s largest e-commerce platforms on Monday announced the launch of Flipverse - a metaverse space where consumers can shop in a photorealistic virtual destination. Flipverse will give customers access to brands, Supercoins and digital collectibles, using the web3 technology being provided by Polygon-incubated company eDAO. Polygon is arguably India’s most famous crypto startup. The objective of the launch is to 'flip' the shopping narrative, Flipkart said. “The launch of Flipverse will continue to have an impact on innovative industries like e-commerce and enhance the customer experience while delivering a gamified and an immersive shopping experience, especially in light of the adoption of the metaverse and web3 platforms by multiple brands in India,” <keyword id="9730459" type="General" weightage="50" keywordseo="naren-ravula" source="Orion">Naren Ravula</keyword>, VP and head, product strategy and deployment, Flipkart Labs, said. Flipverse will enable a multiverse of brands to create unique product launches for engaging users. Brands including Puma, Noise, Nivea, Lavie, Tokyo Talkies, Campus, VIP, Ajmal Perfumes, Himalaya, Butterfly India etc. would be participating in this edition, Flipkart said. Flipverse will be available on Flipkart’s newly launched platform,<a href="http://firedrops.flipkart.com/"> FireDrops</a>, which can be accessed from the e-commerce platform’s app, the company said. Phase one of Flipverse is an Android only experience, and will be live for a week, from October 17. The idea is to have millions of users experience Flipverse and open the doors to the future of shopping, Flipkart said. Metaverse is a hyper-immersive virtual world whose value is steadily increasing. The market is expected to reach $1.3 billion by <a href="https://economictimes.indiatimes.com/tech/technology/metaverse-emerging-as-a-fast-developing-technology-sector/articleshow/94865535.cms">2030.</a> “While we have only just begun to scratch the surface of what's possible in the metaverse, we see e-commerce as one of the killer use cases. Combining top brands with Flipkart's e-commerce expertise in a virtual environment stands to revolutionise online retail as we know it,” <keyword id="11257748" type="General" weightage="50" keywordseo="sandeep-nailwal" source="Orion">Sandeep Nailwal</keyword>, co-founder of Polygon, said. “Flipverse can unlock much value over time, but for Diwali, we simply optimised for delight. Bringing creative and technical heft to Flipkart’s vision is a privilege for eDAO,” Anand Venkateswaran, CEO of eDAO said. In July this year, Flipkart entered the world of web3 partnering with Nothing phone, announcing special perks for the customers through ‘Nothing NFT drops’. Flipkart and eDAO had also recently partnered to create a digital treasure hunt during Flipkart’s Big Billion Days sale. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indians-above-40-are-feeling-younger-healthier-than-gen-z-millennials-report/articleshow/94918231.cms">Indians above 40 are feeling younger &amp; healthier than Gen Z, millennials - report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/pvr-reports-net-loss-of-71-23-crore-in-q2-attributes-it-to-bollywood-hollywood-flops/articleshow/94917917.cms">PVR reports net loss of ₹71.23 crore in Q2, attributes it to Bollywood, Hollywood flops</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/you-can-travel-in-these-countries-with-the-indian-rupee-but-there-are-limits/slidelist/94913764.cms">You can travel in these countries with the Indian rupee, but there are limits</a>

It’s time to shop in the metaverse as Flipkart launches Flipverse

<ul><li><keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>’s online shopper base is expected to reach 400-450 million by 2027. </li><li>The median age of Indians is 28 years, one of the lowest in the world. </li><li>There will be an additional focus on <keyword id="142845" type="General" weightage="80" keywordseo="tier-ii" source="Orion">Tier II</keyword> and Tier III cities, reveal industry experts. </li><li>The country’s direct-to-consumer e-commerce market is expected to reach $100 billion by 2025, more than 15 times where it was in 2015. </li></ul>E-commerce has leapfrogged to a new era of high volume during the pandemic and has become the new normal ever since. Yet, there is a lot more evolution that’s to take place in this segment going ahead, say experts. In 2023, apart from continuing with the growth story in Tier 2 and Tier 3 cities, online shopping will also go deeper – which still has a lot of juice left. “Growth is expected to be led by new online shoppers - primarily from Tier 2/3 cities - and continued online migration of key categories including fashion and grocery. In fashion, 'social' commerce and direct- to-consumer brands are gaining share,” according to a Bernstein study. The mix has increased over the past 5-7 years – when e-commerce was largely concentrated in metro/Tier1 cities – to today, when Tier 2+ customers account for over 50% of the online shopper base, reveals Bernstein. The mix might continue to change with a bias towards non-metro shoppers. Along with robust sales from companies like <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-group-leads-e-commerce-festive-sales-meesho-is-second-largest-contributor-in-order-volume-redseer/articleshow/94701015.cms">Meesho</a> that are focussed on shoppers beyond the metros, the overall festive sales this year also had a large share of such shoppers. According to the E-Commerce Festive Season ‘22 report by Redseer, over 64% shoppers came from Tier II cities of <a href="https://www.businessinsider.in/business/ecommerce/news/one-in-every-five-online-orders-had-a-kurti-or-saree-in-their-cart-redseer/articleshow/95598263.cms">India</a>. “The pandemic changed the way Indians shop, with Shopify research showing more than half (53%) of consumers from non-metros now preferring online shopping, and 80% of Indian consumers preferring to shop from their smartphone. This shift means that often the first time consumers discover or interact with a brand, they’re almost certainly doing it online,” Bharati <keyword id="79029" type="General" weightage="80" keywordseo="balakrishnan" source="Orion">Balakrishnan</keyword>, country head and director, India at Shopify said. India’s online shopper base in general is expected to reach 400-450 million by 2027, according to a Bain and Company <a href="https://www.bain.com/insights/how-india-shops-online-2022-report/">report</a>. <div type="image" title="B&amp;amp;K Securities Footwear Sector Update 2022" agency="Business Insider" msid="96369576" hostid="261"></div> Voice searches to go desi To facilitate growth beyond metros, many e-commerce companies have enabled voice- based shopping, providing language options to make ‘Bharat’ shop online with as much ease as their metro and urban counterparts. The Indian food delivery unicorn Zomato has already gone <a href="https://www.businessinsider.in/business/news/zomato-goes-desi-now-available-in-hindi-and-8-other-regional-languages/articleshow/95767672.cms#:~:text=Zomato%20goes%20desi%2C%20now%20available%20in%20Hindi%20and%208%20other%20regional%20languages,-Advertisement&amp;text=The%20company%20said%20it%20is,to%20place%20order%20on%20Zomato.">desi</a>, making its app available in eight vernacular languages. E-commerce giant <keyword id="18635" type="General" weightage="80" keywordseo="amazon" source="Orion">Amazon</keyword> has also made its app available in English, Hindi, Tamil, Telugu, Malayalam, Kannada, Bangla and Marathi. So has e-commerce platform Meesho. “Video content, voice search and localisation will take precedence in 2023 and beyond. Localisation through the use of vernacular and visual content will be the key to win over customers in Bharat,” Meesho told Business Insider India. Quick e-commerce and D2C business to fly In urban areas especially consumers have become a tad more demanding, especially when it comes to the delivery of essentials. “Within grocery, we're already seeing a shift from slow e-Com to 'quick'/ instant delivery,” said the Bernstein study. That means quick commerce players like Blinkit, Zomato, <keyword id="9731725" type="General" weightage="80" keywordseo="swiggy-instamart" source="Orion">Swiggy Instamart</keyword> and Dunzo are expected to see growth in the coming year. The trend of ordering groceries online has survived the pandemic-time need for essentials while stuck inside. In fact, the lightning-fast speed of the service has caught the fancy of users who now call the non-quick versions as slow e-Com. “The Covid-19 pandemic has impacted purchase decisions, and most users started moving to e-Commerce and quick commerce for their purchases. “Out of stock” - Those three little words have the power to kill e-commerce. In fact, 52% of online shoppers will abandon all items in their carts upon learning that just one item they are attempting to purchase is not in stock,” said Ajoy <keyword id="6356986" type="General" weightage="80" keywordseo="thomas" source="Orion">Thomas</keyword>, vice president, TeamLease Services. Thomas expects India's quick commerce sector to grow 10-15 times in the next five years to become a $5 billion market by 2025, quoting industry reports. Going into 2023, more consumers will look for D2C brands online as e-commerce players distinguish themselves from offline stores by offering products that can only be found online. The country’s direct-to-consumer (D2C) e-commerce market is expected to reach $100 billion by 2025, more than 15 times where it was in 2015, Balakrishnan said. Imagining to experiencing via technology At a median age of 28, Indians are among the youngest and also the most tech savvy. AI and personalisation will, therefore, continue to be pivotal in enabling e-commerce – facilitating personalised discovery. Celebrity fashion designer Manish Malhotra launched his virtual store last year, with a virtual walkthrough of a Delhi store. “Interactive content will be essential in ensuring that millions of new customers move from imagining to experiencing what a product might be like in real life before making a purchasing decision. While the first 100 million customers came from metros, the vision for 2023 is to further double down on getting the next 500 million customers online,” a <keyword id="6354742" type="General" weightage="80" keywordseo="flipkart" source="Orion">Flipkart</keyword> spokesperson told Business Insider India. The e-commerce giant launched an augmented reality-powered Flipkart Camera, an AI-driven regional language interface and a virtual shopping platform called Flipverse. Its rival Amazon also started Amazon Live where shoppers can directly interact with experts who can showcase products, unveil top deals and answer customer queries in real time. Amazon engaged over 150 influencers to generate 600 live streams to help customers make an informed purchase decision. “India has the world's largest base of GenZ population. Their choices will redefine the future of the fashion retail industry in India, giving brands a great opportunity to create offerings to woo this customer base. They are digital savvy, follow global trends and take inspiration from influencers,” a Myntra spokesperson told Business Insider. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/article/15-of-the-top-20-most-used-songs-on-instagram-reels-globally-are-from-indian-artists/slidelist/96368443.cms">Suryakumar Yadav, Srivalli, and T20 World Cup: Top trends on Reels in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/tirupati-lucknow-madurai-and-other-non-metros-that-transacted-the-most-for-movies-as-per-bookmyshow/slidelist/96366956.cms">Tirupati, Lucknow, Madurai and other non-metros that transacted the most for movies, as per BookMyShow</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/south-indian-movies-overtake-bollywood-hollywood-in-cinemas-as-per-bookmyshow/slidelist/96364086.cms">South Indian movies overtake Bollywood &amp; Hollywood in cinemas as per BookMyShow</a>

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It’s time to shop in the metaverse as Flipkart launches Flipverse

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Quick, personal, live and immersive – this is how e-commerce will be in 2023

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