The metaverse is here, and for retailers, it’s real. The retail industry has already been using many of the technologies that make up the metaverse—virtual and augmented reality and personalization, for example—with success, and the industry as a whole is facing significant changes.

Nike has already raked in over $25 million in metaverse sales. Luxury brands like Dolce and Gabbana and Gucci have also found success while experimenting with the metaverse in their infancy. Gartner forecasts that a quarter of people will spend at least an hour a day working and shopping in the metaverse by 2026.

The metaverse is a free and open space that brings…