Build it, and they will come. Or will they?
Success in the metaverse (or anywhere for that matter) hinges on a brand’s ability to connect to the right consumers, at the right time with the right inspiration. And while there’s a lot we don’t know about the so-called “metaverse-potential” target, we’re beginning to understand what’s driving some people to web3 and what’s keeping others away.
Here’s the latest data from global research firm GWI on how consumers are feeling about—and what they’re doing in—the virtual world (and what they’re not).
From “I’m there” to “don’t care,” consumers are pretty-evenly split.
According to the GWI Zeitgeist March study of nearly 13,000 consumers, about 33 percent are interested in participating in the metaverse, 34 percent are on the fence and the remaining 33 percent are not interested.
Who’s interested (and who’s not)
Web3 is a young person’s world – but not totally.
Not surprisingly, younger consumers make up largest percent of respondents who say they are most interested in experiencing the metaverse—online gaming, anyone?—but they’re certainly not all of them. While:
- 42% of gen Z and millennial respondents are interested in participating
- 20+% of gen X and baby boomers expressed interest, too.
The number of older participants could go up, researchers say, as brands begin to build out experiences with this target in mind. Just as this demographic owns various pockets of the social media space, the metaverse will need spaces that appeal to (and attract) them too.
Consumers want to do more than shop.
Most metaverse-potential consumers are looking to be entertained or shop, but their interests don’t stop there. Some want to socialize; others to invest or conduct business—and about 25 percent simply want to explore the virtual world. This diversity is a plus for innovative brands that can build out unique, engaging experiences that are about far more than browsing products.
What they’re looking to do
Others want to do nothing at all (for surprising reasons).
While many industry experts believe lack of security is what will keep some consumers out of the virtual world, a lack of interest seems to be the bigger factor. The GWI data suggests the metaverse simply isn’t all that appealing to certain consumers. Couple that with other research that shows that about half say they don’t understand the metaverse—and it’s clear that brands have their work cut out for them.
Why others are staying away
What else should you know? It’s all going to change.
As the metaverse evolves, consumer sentiment is sure to follow. Contact us and our digital experts will help you stay on top of it all (and a step ahead).