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Roblox fashion is revolutionizing the fashion industry of the meta universe

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Roblox fashion is driving innovation in the fashion industry as luxury brands venture into the meta universe following their success on sandbox platform, reports CNN Style. Major retail corporations are finding that many people value their digital wardrobes as much as their physical ones. As a result, fashion brands are jumping on the metaverse bandwagon, investing in Roblox and other virtual worlds.

CNN article points to a digital version of the Gucci Dionysus bag that was available on Roblox for a limited time in 2021. Originally priced at just 475 Robux (about $6 USD), the digital bag was resold for a staggering $4,115 — $700 less than the physical version of the bag.

The fact that people want to express themselves through clothing or “skins” isn’t necessarily news to longtime video game players. Gamers have been willing to pay significant sums for game cosmetics for quite some time. Cosmetics in games like Counter-Strike: Global Offensive (CS:GO) and Fortnite can fetch hundreds or thousands of dollars when resold.

However, fashion brands have only recently realized that Roblox-like avatars serve as an extension of the player’s personality. So it makes sense that many people would want to dress up in designer clothes and carry collectibles. And, of course, fashion brands are taking advantage of these opportunities accordingly.

Baneconsultancy, reports that online interactions influence 70% of luxury purchases, so it’s no surprise that big brands like Tommy Hilfiger and Vans embraced Roblox and the meta universe to reach new audiences.

A a recent McKinsey report, another major consulting firm, suggests that fashion is “at the cutting edge of the meta-universe.” One of the main reasons is that fashion giants are finding it increasingly difficult to reach people through “traditional” advertising. More people than ever are using ad blockers, spending money to avoid ads on platforms like Hulu and YouTube, and ignoring digital banners. In 2021, Morgan Stanley reported that by 2030, the fashion industry’s revenue from the meta universe could increase by $50 billion. Reuters.

The CNN article also notes that profitability is attractive, as it costs far less to design and produce a digital item that a developer can copy and distribute digitally as often as they want, than it does to design and produce multiple copies of a physical product.

However, this is only a small part of the attraction. Retail brands are also leveraging the Roblox fashion marketplace to connect with a new generation of potential consumers.

“Facebook makes money from brands, Instagram makes money from brands, but Roblox makes money from players,” says Charles Hambra of Geeiq, an agency that helps companies “navigate the meta universe.” “So when a brand goes into these virtual spaces, they need to enrich the experience because it’s a completely different model. The model applies to digital goods and services, not purchases (advertisements) and showing your logo while watching a feed. Brands need to create a real connection with this audience.”

The report also differentiates metauniverse fashion from NFTs, suggesting that the inherent value of NFTs is their resale value, while people buy items for their avatars simply because they like them. This points to Burburry’s recent Roblox launch, where the most popular item after an open 24-hour sale cycle was also the most expensive on the secondary market. This suggests that resale value is independent of its rarity, but that people value an item for personal reasons. What it all boils down to is that avatar fashion is a form of expression and identity just like it is in the real world.

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