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ยท Posted on
February 21, 2024

Meta, FKA Facebook, is promoting its virtual offerings by opening a... physical store?

Meta's California store is set to open its doors next month.

What's the key learning?

  • Facebook has been struggling not just to grow its users, but even to maintain them.
  • Meta selling its own hardware is a way to shore up its future.

๐Ÿ‘‰ Background: We know Meta (formerly known as Facebook) has been barrelling towards the Metaverse. So hard, they even changed their name.

๐Ÿ‘‰ What happened: This crew spent billions on its Reality Labs division and, soon, people will actually be able to try this gear on and purchase it IRL...to go VRL thanks to its new, physical store.

๐Ÿ‘‰ What else: The Meta Store will launch in California next month, and it'll be a place for people to hop in and experience VR before they enter it. Hopefully for Meta, they'll eventually become metaverse customers.

๐Ÿ”” What's the key learning?

๐Ÿ’ก Meta's Facebook platform is fighting an uphill battle to not only grow its user base, but just maintain it.

๐Ÿ’ก The company reported that for the first time in its history, it lost daily users. And this is at a time when newer social media apps (think: TikTok, Snap) are surging in popularity.

๐Ÿ’ก Apple threw a little fuel to the ๐Ÿ”ฅ ย by stopping companies from targeting iPhone users with ad campaigns. So, Meta wants to sell its own hardware devices direct to consumers so it doesn't need to rely on anyone - or anything - else.

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