A Conceptual Framework for Metaverse Marketing Strategies in the Fashion Industry: Exploring the Role of Brand Experience and Brand Equity

In the ever-evolving digital landscape, metaverse has emerged as a physical reality simulation of various people's daily activities, including shopping and retailing. Many Fashion brands have stepped into the metaverse as new and innovative marketing platforms, offering unprecedented opportunities in the fashion industry. Brand experience and brand equity are crucial aspects of the fashion industry, and the metaverse offers new scope for fashion brands to leverage these concepts. Researchers have attempted to create theoretical models to investigate how the metaverse interacts with branding, marketing, and consumer behavior. However, few studies have theoretically and empirically investigated the impact of metaverse marketing strategies on enhancing brand experience and brand equity in fashion. To address this gap, this study adopts a thematic analysis approach that covers the latest publications that discuss the marketing strategies and branding dimensions of fashion brands. It also explores the multifaceted dimensions of metaverse marketing strategies. Accordingly, this study proposes a conceptual framework that demonstrates the impact of various metaverse marketing strategies on different facets of brand equity mediated by the influence of brand experience. The study identified main six themes for the metaverse marketing strategies: NFTs, gamification, immersive technologies, avatars, virtual marketing influencers, virtual stores, and exhibitions. Each strategy is linked with its implications on brand equity elements including brand awareness, brand association, perceived quality, brand loyalty. In conclusion, this study provides valuable insights and research directions for fashion brands on how to leverage metaverse marketing strategies. It also outlines a strategic roadmap for fashion brands to harness the metaverse's potential to strengthen their brand equity, foster brand experience, and ultimately drive revenue growth.