What do consumers want from the Metaverse? Experiences rooted in the physical world!

The Metaverse cannot be ignored, and it is believed that its value will grow significantly. A recent survey reveals, though, how consumers continue to be firmly tied to “physical experiences”.

Consumers at the junction between physical and virtual

There is no escaping the Metaverse. Consumers are constantly looking for new, immersive and interactive experiences, and the virtual world that is emerging has the potential to create value for 5,000 billion dollars by 2030, according to a study by McKinsey. This is why leading companies in various sectors are actively experimenting the market in this context.

A recent survey, again by McKinsey, tells us that all in all the situation is more complex than what it seems. Sixty percent of the consumers responding to a survey on the Metaverse declare, in fact, that:

  • they prefer to pay for offers for products that are in some way tied to the physical world rater than for purely virtual experiences;
  • they are less enthusiastic about products or services that are not connected to their daily activities in the real world.

Yes to digital functions, but only if connected to the physical world

The fact that approximately 50% of those surveyed place Fashion and Beauty as the two “top” categories for shopping in the Metaverse, leads us to the focal point of the research. Many brands, in fact, are not capitalizing on this enthusiasm since they continue to propose exclusively digital experiences. Consumers, on the other hand, prefer applications which increase the buying experience in the physical world.

The function most popular with users of Fashion is, incidentally, that of the virtual fitting rooms. The fact that outfits can be tried on goes beyond mere involvement in the Metaverse: this option, in fact, helps customers find the perfect solution, with significant and positive repercussions on the brands’ cost containments and returns management.

Low interest in exclusively virtual experiences

Let’s close with an interesting fact concerning the real estate sector, but evidently applicable also to other types of products and services. Considering a significant 50% of potential customers who value virtual tours and product demonstrations, just 21% of those surveyed is interested in building, buying or renting properties that exist only in digital. Further proof of how online is inextricably linked to offline.

Here at Bizeta, we have been analyzing the phenomenon of the Metaverse for some time, trying to interpret the latest trends tied to the advent of virtual reality. An approach to ensure that our solutions for the Retail world remain in an omnichannel outlook.

Published on 18/07/2023 in Trends & Markets