6 RETAIL NEWS CAPSULE PHILIPPINE RETAILING
Meta ’ s first store aims to lure consumers to the metaverse
Meta is taking the next step in its evolution away from being an ad-supported social network to a hardware-driven tech company for the metaverse age , with the opening of its first-ever retail store .
As the company formerly known as Facebook works to justify the billions it ’ s pouring into metaverse infrastructure — its Reality Labs segment lost $ 3 billion in the first quarter — it ’ s stepping up its efforts to introduce its next-generation products to the mainstream consumer . CEO Mark Zuckerberg has laid out an ambitious vision for the metaverse , in which people will interact in virtual worlds through various devices such as virtual reality headsets , but has suggested that it won ’ t be done until the end of this decade .
Martin Gilliard , Head of Meta Store , tells CNBC that the store is designed to expose consumers to Meta ’ s products , which you really have to experience to understand .
“ The store is essential for us to be another touch point for the consumer ,” Gilliard said . “ What we will learn from this store will help inform if we continue to do more of these , but what we ’ re really looking for is the ability to tell a story and to get the feedback from the consumer .”
Meta ’ s first brick-and-mortar presence is a tidy 1,500-square-foot space adjacent to its Reality Labs Headquarters in Burlingame , California , with three products on display on blonde wood shelves . The most important for adoption of the metaverse is the Quest Two virtual reality headset , which consumers can demonstrate to understand the various use cases of virtual reality .
Then there are Meta ’ s Ray Ban Stories , “ smart glasses ” which capture photos and video to share on social platforms . And last , the company is showcasing the Portal , a video calling device which the company is marketing as a solution for work-from-home and families to stay in touch .
But the stores aren ’ t only there to demonstrate Meta ’ s new products to consumers . Because all three products are in relatively new categories , Gilliard said the company is also looking to learn from the way consumers interact with them .
“ Customer feedback is part of what we will continue to build in the future ,” Gilliard says .
It ’ s notable that the store isn ’ t on a busy pedestrian shopping street , like the Apple store not far away in Burlingame , but rather is anchored to Meta ’ s Reality Labs offices . Gilliard responds , “ What I will say about the location is that it is accessible . We have a lot of walking paths here and even from [ the first day ’ s ] turnout , I don ’ t think that ’ s been a deterrent to people showing up at the store .” For now , Meta ’ s not saying whether it plans to open more permanent stores or pursue pop-ups , the way Amazon has .
( CNBC , 05 / 09 / 2022 )
NBA returns to physical retail in Ph , opens new store
The NBA Store has returned with a physical location in the Philippines after a four-year absence .
In partnership with Titan , merchandise from all 30 teams in the NBA are now made available to Filipino fans outside of the NBAStore . com . ph with the NBA Store ' s 29th international door opening at SM Megamall in Ortigas . The 250-square-meter location houses products ranging from jerseys and t-shirts to caps and balls featuring various players and teams . A highlight is Filipino-American Jalen Green ' s Houston Rockets jersey .
"[ It ' s ] bringing the NBA closer to our fans ," said NBA Philippines Merchandising Manager Pat Giron , who also noted that the Philippines is one of the NBA ' s largest markets next to the US .
Meanwhile , Titan Managing Director Mike Ignacio said that opening the store on top of the website was a way to give customers a choice on how they want to shop for their favorite NBA merchandise . " Fans really have the option of choice here . Some prefer to buy online , and some really want to experience the physical store so that ' s really why we opted to open [ this ]," he said .
The store , located on the second floor of the Mega Fashion Hall in SM Megamall , opened its doors to the public on May 6 and started regular operations from 10 a . m . to 10 p . m . on May 7 .
Also available for sale in the store are products from the NBA ' s partner brands like Nike and Jordan footwear , Mitchell and Ness vintage jerseys , and collectibles like Funko ! Pops and Panini basketball cards .
But it ' s not just the merchandise that makes the store a haven for Filipino NBA fans as it also has interactive elements throughout the location .
( Philstar 05 / 06 / 2022 )