What 558 brands know about retail’s digital future

What happened Public enthusiasm for Web3 and digital fashion may have fizzled, but brands are quietly doubling down on their metaverse strategies. Fresh data from metaverse platform Geeiq reveals that 2024 saw a record surge in brand-led virtual worlds and activations, with both newcomers and established players expanding their digital footprint. Despite shifting hype cycles, the numbers tell a different story — one of sustained investment and long-term commitment. Last year alone, 558 brands launched new activations in virtual spaces, up 10% YoY. First-time entries also hit an all-time high, with 370 brands debuting in the metaverse, accounting for more than half of all participants since 2018. In total, 1,065 brands have now ventured into virtual worlds, with over half (52%) of those doing so in 2024 alone. How virtual drops are redefining metaverse engagement “Technically brands aren’t activating all that differently in Web3 than they were during its height,” says Geeiq CEO and co-founder Charles Hambro. “But when it comes to the wider virtual world space, which predominantly isn’t Web3, we are seeing constant evolution in the ways brands are activating.” Hambro says that several brands are opting for virtual item drops and integrations into existing, popular experiences, which provide a lower barrier to entry than an immersive, persistent brand-owned experience. “Our latest report found that there was a 93% increase in brand integrations in 2024 versus 2023,” he adds. The Jing Take The new figures suggest that digital experiences remain a key frontier for brands looking to engage the next generation of consumers. “When it comes to the most effective brand strategies, it totally depends on what a brand is looking to get out of the space,” says Hambro. “For some time, it was a predominantly ‘innovation’ play. Today, more and more brands are approaching it from a performance marketing perspective, setting marketing goals that are comparable to social and traditional media campaigns — and they're seeing real returns.” Gaming channels: The metaverse’s most lucrative platforms Gaming channels in particular are cash crops. Per Geeiq’s research, while Roblox continues to dominate as the go-to platform for brand activations, Fortnite’s ecosystem is rapidly expanding. Minecraft is also experiencing a resurgence, and virtual real estate platform The Sandbox is growing steadily. “Based on Geeiq analysis, a consumer spends an average of 1.3 seconds engaging with a brand’s social media content. In a virtual world like Roblox, it can be up to 11 minutes,” Hambro says. In 2024, brands launched 828 new activations across these virtual spaces — making up 42% of all tracked activations. Since 2018, a total of 1,988 brand activations have been recorded, highlighting the steady momentum of digital engagement, even through Web3’s boom and bust cycles. Virtual worlds are already making a splash in 2025 — pop sensation Chappell Roan and the Super Bowl rolled out fresh avatar-driven activations on Roblox, engaging Gen Alpha, the dominant force shaping culture through gaming. Parisian label Coperni is also set to merge fashion and tech at Paris Fashion Week with a LAN (a social gathering where people connect their devices to a local area network to play multiplayer video games together) party-inspired runway, bringing the energy of multiplayer gaming to the catwalk, while Swiss fragrance leader Givaudan has debuted an interactive fragrance adventure in Roblox. According to retail design and strategy agency YourStudio, in the next four years, Gen Alpha consumers are set to surpass Baby Boomers in numbers, with a projected economic clout of $5.46 trillion as they enter adulthood. These digital-native youngsters are tech-savvy, experimental, and hyper-expressive vis-à-vis their consumption habits, seeking spaces where they can connect with both peers and brands — namely, gaming platforms. How digital shopping hubs are shaping virtual retail Brands aren’t just targeting the youth. They’re using virtual spaces to engage Gen Zs and millennials, too. Digital shopping hubs are becoming more immersive and personalized, catering to consumers who demand both experience and long-lasting value. As platforms evolve and competition heats up, brands that double down on their metaverse strategies now could be the ones defining the future of virtual retail. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

What 558 brands know about retail’s digital future

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Published February 10, 2025

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What 558 brands know about retail’s digital future