Innovative value propositions in the fashion metaverse

Stefano Paolo Russo, Cristina Mele and Tiziana Russo Spena

Journal of Global Fashion Marketing, 2024, vol. 15, issue 1, 39-61

Abstract: At the present time, fashion companies experiment with the metaverse in pursuit of innovative value propositions (IVPs) to offer to customers, and this paper addresses that phenomenon. The metaverse is a “phygital” space that rests on a range of different technologies, leveraging the benefits they generate and enhancing their potential applications. We carried out an exploration of 17 cases across the fashion industry by deploying a “metaverse ethnography” to utilise thick data (qualitative information such as observations, feelings, and reactions) which offers contextual and qualitative insights. Our main contribution consists of a framework that has identified the metaverse as an enabler of IVPs. We address three main activities that fashion companies carry out to leverage the potential of the metaverse: crafting resources, designing contexts, and enabling experiences. Within these activities, fashion companies offer new value promises to customers and activate new strategic levers; both of these result in IVPs. We highlight implications for scholars, practitioners and for further research.

Date: 2024
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DOI: 10.1080/20932685.2023.2268609

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