While Gen X and Boomers may struggle to figure out what Metaverse so is Gen Z fully immersed in it. Now, digital experts point out the games As a platform for brands to connect and engage with this generation.
“It’s not alien or futuristic The concept is for them – it is their reality,” says a report by Razorfish, a digital marketing agency, and VP Media titled “The Metaverse: A View from Inside.” Through virtual events, augmented reality (AR), games, and other immersive experiences The metaverse affects the way Gen Z thinks, acts, socializes, and spends money every day.”
Among other things, the Razorfish/Vice report found that 1 in 3 Gen Z participants would like to see Virtual stores to browse/buy products. As it is, they’re already buying virtual goods for their virtual experiences, and over the next five years, 20 percent of Gen Z’s “fun budget” will go to the metaverse, up from 15 percent (or $50 a year) today. Whether it’s customizing their avatar or buying things in line with their values, 2 in 5 Gen Z respondents say their virtual possessions are just as important to them as their real-life possessions.
Right now, 35 percent of Generation Z consumers have tried virtual reality (VR), according to Cotton Incorporated’s COVID-19 consumer response surveys. That compares to 30 percent of Millennials, 26 percent of Generation X, and 13 percent of Boomers.
More than a quarter (26 percent) of teens own a virtual reality device, according to the Piper Sandler’s Evaluation Questionnaire for Adolescents, Fall 2022.” Weekly use of virtual reality hardware is at 14 percent. Meanwhile, the company found that video games make up 12 percent of teens’ wallet share, and 30 percent plans to buy a next-gen console within two years.
The Razorfish/Vice report also found that 46 percent of Gen Z like the brands Offer free products and experiences In other games or metaverse areas. Another 36 percent would like to present their experiences, followed by 23 percent who would like brands to create digital worlds and 18 percent who would like to see ads on virtual billboards.
YPulse, a youth-focused market research consultancy, says it has long said that The future of advertising in games. The Opposite Direction report shows that 73 percent of young people love when brands interact with their virtual worlds, and brands that do can be “incredibly successful” if they do it right. This means that brands can meet these consumers on platforms like Roblox Toys, Maine Craft And the Fortnite. YPulse found that 61 percent of young consumers agree that when brands interact with the virtual worlds they are a part of, it makes them more likely to buy from that brand.
“good idea “For any brand that hasn’t done this, start thinking about how they can do it,” the Ypulse team says in an article. The company states how Walmart has joined the metaverse Across Roblox with Wal-Mart Land And the play worldtwo online worlds that provide opportunities for live events such as virtual concerts, games and “verch” – virtual merchandise.
Meeting clients in the metaverse can help solidify a relationship that has already been established. As it is, mass merchants like Walmart are Gen Z’s second most favorite store to shop for real-life apparel (13 percent), behind fast-fashion stores like Zara and Forever 21, according to Cotton Incorporated. Lifestyle Monitor™ scan. This is followed by specialty stores such as American Eagle and Gap.
Coincidence, Gap also entered the metaverse From which Club Roblox boutique, which will help “attract younger audiences and foster a sense of inclusion,” according to a report by Zipline, an operating platform and solutions provider. So, too, PacSun has a Backworlda metaverse version of its traditional stores “allows users to participate in a community with exciting visual items and activities.”
Zipline report says a major challenge for retailers The lack of understanding of Metaverse will be overcome. He suggests that brands can overcome this barrier to entry through blended in-store experiences where augmented reality (AR) meets real life, as well as virtual reality technologies to shop online and interact with friends online and in-store. Zipline points to Lululemon, which has equipped some of its stores with AR-enabled mirrors that allow users to communicate with friends.
Generation Z has more experience with augmented reality technologies than other generations. Consumer response surveys to the coronavirus show that 41 percent of Gen Z consumers have tried augmented reality, while 34 percent are aware of it but haven’t tried it. This compares to the 23 percent of millennials who have tried it, and the 30 percent who know but don’t give it a chance. Among Generation X, 24 percent have tried augmented reality, while 34 percent are familiar with it but haven’t tried it. And Boomers are far behind, with only 5.7 percent having tried it, even though 31 percent are aware of it.
A new development to watch out for: TikTok adds a tab dedicated to gaming to its platform. This is important, keep in mind TikTok is indeed the best social networking site out there For Generation Z, according to YPulse.
“TikTok and games TikTok’s Assaf Saji said in a LinkedIn post. “TikTok has so far shown its value in helping consumers discover what is fun, valuable, and popular.”
Melissa Wong of Zipline, CEO and Co-Founder, says,It’s still very earlyto retail in the metaverse, even among Gen Z gamers.
Still, it creates Unique opportunity retail brands to establish themselves as leaders in the new virtual economy. The key is to engage consumers with entertaining and accessible digital content that lowers barriers to entry and meets metaverse users where they already are.”
The Cotton Incorporated Lifestyle Monitor™ survey is an ongoing research program that measures consumer attitudes and behaviors related to apparel, shopping, fashion, sustainability and more.
For more information on the Lifestyle Monitor™ survey, please visit https://lifestylemonitor.cottoninc.com/.