As Elvis Presley once sang, this is a good reminder of the explosive efforts on Web 3.0 and AI by companies across the planet. We are certainly in the age of bipolarism. For decades FMCG and, most importantly, the luxury market avoided any form of digitalization. That is, until Covid hit the scene and their efforts accelerated by an unpreceded magnitude. Recent reports show 5 years of tech adoption and execution has shrunk to 6 months.
The old rule of thumb is: if you are rushing it, you will not have something great as a result.
As the ecosystem is still quite new in digital services, we can reasonably say we are still in the early stages of even mastering Web 2.0. Yet we appear to be in a massive rush to Web3.0 – and this when the Web3.0 creators themselves are not even 100% clear on what and how they will achieve a positive impact. Some players in the Travel Retail ecosystem are seemingly caught up with the Web3.0 hype and rushing to invest heavily without a proper understanding of what they like to achieve in this space.
For example, let’s take a look at Shiseido’s effort in this space: www.tokyo-beautyverse.com