A hefty majority, nearly 75% of Gen Z shoppers have bought a digital product within a video game experience.
Those are top findings from an Obsess study gauging consumer perception of and demand for virtual shopping experience in the metaverse — a market that is expected to hit $800 billion in two years, according to a press release on the study’s findings.
Among Gen Z shoppers, 60% believe brands should sell their products on metaverse platforms. The survey also found one-third of all survey respondents, including 40% of Gen Zers and 40% of Millennials, would be interested in shopping for real or virtual products in metaverse environments that brands create.
“Our data indicate that the majority of younger consumers want to be able to shop their favorite brands anywhere they go online, including on metaverse platforms,” Neha Singh, CEO and founder of Obsess, said in the release.
“These shoppers have grown up with online video games, e-sports and social media and many of them see the emerging metaverse as a modern day mall — a connected virtual world where they can hang out, shop and socialize. For retail brands, these survey findings highlight the importance of creating sound metaverse commerce strategies today that will resonate with consumers over the coming years.”
Additional findings include:
- A quarter of consumers have shopped online in a 3D virtual store: Among that group, 70% — including 69% of Gen Zers, 77% of Millennials and 67% of Gen Xers — have made a purchase in a virtual store. Such stores are widely seen as brands’ entryway into the metaverse.
- The majority of consumers who shop in a 3D virtual store find it highly engaging: Among respondents who had previously shopped online in a virtual store, 60% indicated that they are likely to do so again, including 54% of Gen Zers, 68% of Millennials and 67% of Gen Xers.
- Online video game platforms are key metaverse shopping environments: Nearly three-quarters (74%) of Gen Zers and 62% of respondents overall have purchased a digital item — such as an accessory, skin or garment for their avatar — within an online video game.
- Not all consumers are clear on how the metaverse is defined: Just over half (53%) of respondents are very or somewhat familiar with the term “metaverse,” indicating that retail brands will need to establish clear messaging when it comes to describing their metaverse offerings to consumers.
- Some 40% of all respondents think the metaverse is still in the conceptual stage, but that it will eventually take the form of connected online technology platforms that people will navigate using a digital avatar, while more than a quarter (27%) mistakenly perceive the term “metaverse” refers to a technology owned by Meta, the parent company of Facebook.
- Based on their current understanding of the metaverse, 38% of respondents surveyed said they would like to be able to shop in the metaverse, including 42% of Gen Zers, 44% of Millennials and 56% of Gen Xers.
