Billed as the future of retail by Forbes earlier this year, the metaverse is tipped to change everything we know about e-commerce and fashion retail.
The bandwidth support required for a true metaverse experience at scale is not quite there yet, but that has not stopped the likes of Tommy Hilfiger, DKNY, Nike and Dolce & Gabbana making an early move into this new, virtual space.
French department store Printemps is the latest name to join the list after launching a metaverse-style virtual experience for its customers, intended to blend physical and digital buying journeys. Founded in 1865, Printemps launched its e-commerce website as recently as March 2020. Now, in late 2022, it is giving away NFTs as it steps into the metaverse.
For Printemps, however, this is about channels rather than commerce. CX Network catches up with digital marketing director Morgane Lopes, to find out more.
Printemps.com is the e-commerce arm of the French department store chain, founded in 1865 and considered a world leading brand for fashion, luxury and beauty. Yet your e-commerce website only launched in March 2020. Why was the decision taken to bring Web 3 capabilities to Printemps.com so soon?
Morgane Lopes: There were a few reasons behind our decision. Initially it was to test and learn about our client’s interest for new trends and digital customer journeys. This initiative gave us valuable customer insights and helped us to pave the way for an upcoming innovative strategy.
Another reason was that we launched our e-commerce website quite late compared to other bands. Now, however, we are the first French retailer to turn to Web 3 technology and offer NFTs. We are reinstating our leadership position and pioneering mindset among competitors.
Last but not least, with the imminent end to cookies and third-party data we at Printemps think about how we will be able to connect with our audience in a world where cookies will no longer exist.
How will the introduction of Web 3 capabilities for Printemps.com change the customer experience?
ML: Introducing Web3 capabilities is paving the way of how we, as marketers at Printemps, will interact with our clients in the near future, as well as the future of online shopping.
Buying a luxury product online can be cold compared to the in-store experience: there is no salesperson to talk to or get advice from, you cannot touch the fabrics, you cannot try items on and there are none of the smaller touches that make a customer feed special, such as a complimentary coffee.
By levering virtual reality (VR) and all that technology has to offer, we here at Printemps are enhancing the e-commerce consumer journey.
From your mobile, sitting in your living room, you can wander in our virtual store and be immediately immersed into the experience. The virtual store has been carefully designed to reflect our Parisian flagship story – and a bit more.
Using technology, we have embellished the in-store experience to go the extra mile and create an unreal setting. For example, the atrium has a magnificent glass ceiling inspired by the seventh floor in Printemps Paris. Coats and hats are hanging on a golden floral sculpture, sneakers are levitating on the wall.
Outside is the rooftop garden with a 360-degree view of the Paris skyline, on which handbags are hanging from a blooming cherry tree, or displayed in an iridescent rotunda, iconic to Printemps’ architecture.
We also created NFTs, a new tool to help defining client’s loyalty to our brand and experiences.
What percentage of total sales do you expect to see generated by the immersive online experience?
ML: Our objective is not really to boost sales but mainly traffic and the number of omnichannel clients. The question for us was: how do we convert monochannel clients to omnichannel ones?
The answer is by getting them to make their first purchase online through a unique and innovative consumer journey and giving them the opportunity to win their first NFTs and discover this new trendy topic. Since Web 3 can be frightening and complicated, our role was to ensure the journey was as smooth and self-explanatory as possible.
This means that Printemps’ new virtual world is about omnichannel, rather than e-commerce. With that in mind, who are your target market and what has the early customer/ BETA testing feedback told you about the concept?
ML: We launched in France and in the UK as these are our top two markets in terms of traffic and customer database. The feedback has been very positive: the beauty of the store, NFTs very easy to download, a seamless experience. Customers also liked our mix of exclusives and must have of the season, which creates a great selection of products.
Bain & Co recently wrote that NFTs are the future of CX. With your own NFT giveaway to promote the roll out, what is your take on their outlook?
ML: I am more interested in what the wallet holding the NFTs will do tomorrow and what it will mean for the future of digital marketing!
From third party to cookie-less and zero party data: what if the wallet was a brand’s goldmine to communicate with clients and get a hint on their consumption habits? What if brands could access one person’s wallet and see what it holds? The cryptocurrency, the NFT collection, and get direct access to client with no third party? I guess NFT added value relies on what it could bring to a loyalty program and how to reward client who hold NFTs.