Walmart is reportedly moving into the metaverse with the launch of two experiences on its online gaming platform Roblox. Walmart’s first foray into the world of VR brings a blimp that drops toys, a music festival with a collection of popular artists, some games and virtual merchandise, plus two other experiences, Walmart Land and Universe of Play. It’s clear that Walmart is looking for new ways to reach shoppers after the pandemic changed consumer shopping habits and the way consumers interact with social media, apps and gaming sites, which is one of the reasons why Walmart is adjusting its strategy.
Walmart is already doing a big direct carry on TikTok, Twitter, and YouTube. Not only that, Walmart has partnered with Meredith, Parents, and Better Homes & Gardens to create vegan recipes, and it has launched an AR tool on Pinterest to help consumers pick furniture and decor.
William White, Walmart’s chief marketing officer, said Walmart is considering entering the meta-universe and will continue to go deeper in the future, and Roblox is just the experimental field.
He explained that the newly designed metaverse experience takes the next generation of shoppers into account, especially Generation Z, which is about 25 years old or younger.
Walmart hopes to learn something new from the partnership. White admitted that Walmart is not making money on the meta-universe side now, but will in the future.
At the beginning of the year, Walmart had applied for metaverse-related trademarks, some of which implied that Walmart wanted to make and sell virtual goods, offer virtual currency to users, and also involve NFT.
Roblox currently has a market cap of about $21.2 billion, but shares have fallen 60% this year. As the number of Roblox users grows, more and more retailers and brands are entering.