Hivestack, a programmatic digital out-of-home ad tech company, has launched a new research section to investigate in-store, programmatic media activation in the metaverse. As part of the program, former Microsoft Research Managing Director and computer vision pioneer P. Anandan has joined Hivestack as a special advisor.
According to a recent eMarketer research, advertisers in the United States spent $31 billion on retail media in 2021, with a forecast of $100 billion in the following years. According to the report’s results, the majority of ad spend was spent on Amazon and Walmart’s digital assets. Large, big-box retailers are increasingly integrating custom ad tech stacks with identity solutions to monetize their online marketplace and physical storefronts.
Big box shops are expanding their digital products and creating metaverse counterparts to their physical locations. When these stores open, customers will be able to put on virtual reality headsets and watch their avatar counterparts walk down aisles, enjoying all of the pleasures of a virtual shopping trip. Consumers will have a much more immersive buying experience with two-dimensional user interfaces on their mobile devices than they have now. Marketers will be able to contact consumers – specifically, their avatars – at the moment of purchase via advertising on virtual in-store walls, virtual digital endcaps, and even virtual in-store audio advertising. According to preliminary studies, consumer interaction in the metaverse will exceed present internet experiences, resulting in deeper engagement and better results for advertisers.
Hivestack demonstrates how ad tech may be utilized to programmatically activate ad opportunities in virtual retail outlets in the metaverse with this endeavor. Consumers are technically buying from their homes using VR headsets, but their avatar is out of the house. Although most of Hivestack’s full-stack technology for digital out-of-home activation and monetization applies to retail metaverse advertising, there are still some significant computer science holes to be filled. Hivestack started this endeavor to develop the technologies needed to make programmable DOOH a success in both the meta and physical worlds.