Combining physical and digital goods to enhance the consumer’s experience is nothing new.
The term itself was coined in 2007 by Chris Weil, Chairman-CEO at Momentum Worldwide, to describe the connection between physical and digital ecosystems where all brand experiences lie.
At the time, phygital was a concept that highlighted the great potential for brands to engage with consumers using both physical and digital means. In 2007, brands and consumers had only just begun to explore this innovative concept.
The 2020 pandemic is what really accelerated this blend of physical and digital worlds. Considering many of us were separated from our friends, families, and co-workers, we lacked social interaction.
That being said, technology was there to save us. Through the use of virtual meeting software and other forms of digital communication, the global economy was able to carry on despite being in the midst of a global crisis.
This crisis didn’t just open a new door for communicating with our loved ones, it also opened up new opportunities for brands to unite with consumers on a much larger scale.
Without a doubt, the pandemic has changed the way we think as humans, as well as what we view as acceptable in terms of consumption. The way we shop, dine, and participate in events has permanently changed.
We buy most of our goods online, we order food through an app, and we attend important meetings and conferences through a screen. And this is just the beginning of what a truly phygital economy will look like.
Now with the implementation of blockchain technology, we have access to trustless networks that allow us to interact without the need for an intermediary and prove ownership of digital goods via NFT technology.
Overall, the goal of “going phygital” is to enhance consumer experiences by enabling brands to build more meaningful relationships with their community, in a seamless way.