It's a market that did not exist till the other day. And, out of practically thin air a new ecosystem has been conjured up for the fashion industry by the Metaverse. It's also a portal to a whole new ready-to-be-explored world for sizing/fitting solution companies, because the work they do dovetails well with the opportunities that the Metaverse offers to brands and retailers.
Things are pretty much in a nascent stage yet—like the early days of the real universe, and questions abound as companies try to navigate this new-fangled concept, nay maze. Are we going to see a convergence of the sizing/styling/fitting mini-ecosystem with the ever-expanding Metaverse? After all, there are far too many things that are in common, and the Metaverse seems the fertile, ready-to-sprout terrain for the sizing (and also styling) sector to flourish in.
Reacts Sebastian Schulze, Founder and CEO of Fit Analytics: "We definitely see the potential for augmented reality and virtual reality to open up new possibilities to shop. In fact, it’s already happening. Snap already has AR try-on technology available that enables shoppers to use their smartphones to actually try on fashion items before they buy. And this is really just the beginning. We expect more of this in the future with virtual try-on, AR sizing and styling solutions, and even virtual storefronts where consumers can shop in virtual malls, try things on, and have items delivered directly to their homes."
Snap was an early mover. In March 2021, it acquired Berlin-based Fit Analytics, a startup that had built technology to help shoppers find the right-sized apparel and footwear from online retailers.
On the other hand, Nikita Dobrynin, Founder and CEO of Kiev-based AstraFit, explains how it looks at a simplistic level: "Potential convergence is a two-sided movement. Traditional brands are definitely interested in gaining a new income source in form of digital clothing. On the other hand, digital brands will be looking to tap into sales of physical apparel. There will be solutions for both sides that will eventually help both parties. As a solution from the side of physical clothing, we are considering creating a possibility for our customers to 'convert' their models into a digital asset."
The convergence of styling and the Metaverse has already arrived, according to Billy Pardo, Chief Product & Operations Officer of Tel Aviv-based MySize. "Major retailers such as Adidas, Nike and Gucci are already selling millions of dollars worth of NFTs (Adidas generated $60 million in NFT sales from one collection in just 18 days). But what started as ‘Bored Apes’ and an 8-bit collector's items is already evolving into an important evolution of retail. The most successful fashion brands of the future won’t just offer their clothing online—they will also create an immersive digital shopping experience from virtual showrooms, stylists, and virtual products (NFTs).”
So, there are reasons to be passionate about the Metaverse. For San Francisco-based Bold Metrics Co-Founder and COO Morgan Linton, this is what prospects look like: "We see the Metaverse as a major step forward when it comes to how consumers and brands are able to connect digitally. At NRF this year, we announced our application for a new patent for a body data NFT, something we think is going to become foundational as the Metaverse continues to grow. We see a future where consumers are able to carry their body measurement data with them (as an NFT) and instantly generate their avatar in multiple Metaverses and experiences, and most importantly, own and control their own data." Whew!
Data and mapping—it'd look like a marriage made in heaven. Says Nicole Levitt, Vice-President of Marketing at Israeli company Sizer Technologies: "As we enter the Metaverse, digital sizing technology will be used to map the body and create a true-to-life avatar. With accurate sizing data online and off, digital, and real fashions can be made to fit more accurately creating a more bespoke online experience and a more convenient and less wasteful offline shopping experience."
In a recent blog post on her company website, Levitt had emphasised: "What was once a novelty is now becoming an everyday reality of the online experience. As we move into a more integrated and personal digital world, why wouldn’t people want their virtual selves to have a virtual wardrobe? Research conducted by Squarespace revealed that 60% of Gen-Z and 62% of Millennials believe ‘how you present yourself online is more important than how you present yourself in person’. A positive virtual reputation is vital and as these people shift from social media into the Metaverse, appearances will be of primary importance."
It's going to be Avatar Redux, only that this one will be in the Metaverse. As Linton remarks, "What I personally think is going to be very interesting is when people in the Metaverse want to buy the clothes their avatar is wearing, but in real life. I don't think people will want to leave the Metaverse and go to a Web 2.0 website to buy clothes. Instead, I think solutions like our body data NFT will allow for a seamless experience where you can instantly buy anything your avatar is wearing, in your size, matching your exact fit preference, and you never have to leave and go to a website to checkout. As long as your body data NFT is in your wallet, and that wallet is connected to any Metaverse you're using, say Decentraland, the Sandbox, or Yuga Labs Otherside—your real world body data will come with you allowing for a seamless shopping experience."
It's readymade to try out innovations. Eric Best, Co-Founder and CEO of Seattle-headquartered SoundCommere, says, "It's great to see experimentation and innovation happening in the industry. There's obvious utility in something like Warby Parker's virtual try-on where I can see glasses frames sized accurately to my face and get a head start on what otherwise involves the cost and environmental impact of shipping and returning a bunch of frames I choose not to buy.
"The other area where we're seeing innovation is in the expansion of made-to-measure opportunities into categories that were always ready-to-wear. A great example of this is Son of a Tailor, where I can upload my ideal measurements taken from my current favorite tee, and know with relative certainty that the new one I get will be sized just the same."
It's not going to stop at that. Pardo underlines: "The impact of the metaverse doesn’t just stop at offering a virtual experience; it can dramatically increase buyer confidence and reduce returns. Our virtual avatar offering enables consumers to see exactly how an item would fit their body rather than a simple text answer. Virtual showrooms, stylists, and NFT-based experiences will ensure clothes fit better, are returned less, and perhaps most crucially reduce the environmental impact.
"The fashion industry is one of the top three largest contributors to waste and climate change, largely because of its unsustainable and non-eco-friendly methods and excessive production. The metaverse has the potential to change that."
All this calls for a whole new engagement, and the rules of engagement are just being drafted. Outlines Linton: "I think that apparel brands now have a new way to engage with shoppers. Just think, rather than going to a Canada Goose store that looks like a traditional store, in the Metaverse you could shop for Canada Goose jackets while hiking around Mt Everest! The opportunities are massive for brands to create much more interactive experiences for their shoppers around fit, sizing, and the entire experience of shopping for clothes. "
And there might be no limits—the Metaverse doesn’t have one now.
