Meta Planning to Open Retail Stores According to Business Insider Report

What Happened? 

Technology giant Meta is planning to move into the retail space by opening retail stores where customers can try out merchandise such as virtual reality headsets, according to a report by Business Insider. The report cited an internal communication by Meta discussing plans for future retail stores, though the details were not made public.

The memo also reportedly detailed Meta’s plans to hire retail employees, but Meta declined to comment. Meta currently has only one retail store known as The Meta Store, which is open in Burlingame, California.

Why it Matters

Retail stores have become an important part of the business for other technology companies, especially Amazon and Apple. Amazon has experimented with grocery stores where customers can check out without waiting in line for a cashier, and Apple stores have become places where customers can come to preview new devices and capabilities for Apple products. Apple currently has over 500 retail stores in operation worldwide.

In 2024 Meta sold over one million virtual reality headsets, a number which could be increased by allowing potential customers to find a place where they can try out the technology prior to purchase. Currently, anyone thinking of buying a virtual reality headset must rely on online reviews or use one owned by a friend if they want to try out the technology before buying. The inability to try before they buy could prevent many owners of virtual reality headsets from making a purchase.

Meta’s plans to invest in wearables, such as their Ray-Ban Meta glasses, could also benefit from being shown in brick-and-mortar stores. Meta also recently hired John Koryl, the former chief executive officer of the luxury goods marketplace ‘TheRealReal.’ Mr. Koryl was hired as the VP of Retail, reporting directly to Meta’s chief technology officer.

Last year Meta opened Meta Labs in Los Angeles, which has grown into a storefront where consumers can try out new products such as virtual reality headsets and the Meta Ray Ban. ‘I want people to come away from Meta Lab feeling like, “Wow, these guys are serious about this,”’ Matt Jacobson, the company’s creative director for augmented reality, said in November according to Bloomberg. Though Meta Lab is currently closed, Meta has publicly said the location will reopen in the future. 

Meta CEO Mark Zuckerberg has repeatedly told investors he remains confident the company’s virtual reality sales will continue to grow. 

How it Affects You

For consumers, determining whether or not they like using virtual reality headsets is difficult because it is so subjective. Online reviewers tend to either love or hate VR headsets, and for those considering a purchase they currently have no way to see for themselves. If Meta does move into the retail space, it could provide a new way for would-be buyers of virtual and augmented reality to make a more informed purchase decision.