While perspectives differ, the broader technology industry agrees that metaverse experiences can play a significant role in shaping how we work and play in the coming years. As we’ve discussed before, metaverse experiences and interactions are in their infancy. Investors, technology companies, and consulting organizations (including InContext) are quickly drafting thought leadership pieces that provide points of view on what the path to metaverse success can be for organizations across verticals.
There are a number of great content pieces where experts in the industry try to tackle the commercial applications of metaverse experiences, including a strong piece by IBM released in January 2023. We are all trying to understand how, where and when corporations are going to invest in metaverse experiences and initiatives.
Are consumers ready?
We recently surveyed 300 US consumers to explore how people are engaging in metaverse experiences today. We also wanted to learn what would make them more actively engaged in the future.
We asked a simple question: “How would you describe the metaverse in your own words?” About 40% of respondents referenced “virtual reality,” “3D,” or “digital experiences.” However, the remaining respondents generally admitted that when it comes to the metaverse, they were clueless.
As we explored this topic, we started by trying to understand if consumers are even using platforms that provide metaverse experiences today. While most consumers have at least tried gaming systems, the use of additional platforms had a lot to do with the generation each survey responder fell into:
Probing further, we asked consumers what metaverse experiences they or someone in their household have engaged with recently. We found that just over 60% of US consumers actively engage in at least one well-known metaverse program today. For most of those active participants, gaming systems drive usage and awareness:
When looking at how and in what programs most consumers of metaverse experiences engage, it isn’t surprising to see that they view entertainment and gaming as top reasons to participate. However, when we explore differences in how adults in the home interact compared to children in the home, there appears to be a stronger opportunity for marketing and commercial experiences focused on exploration and shopping among nearly half of the adults surveyed:
Utilizing metaverse experiences for the average consumer is just getting started, and data reinforces that active participants today engage primarily through gaming metaverse universes. However, as access increases to metaverse platforms and consumers become more knowledgeable in how to engage and interact with them, we at InContext see significant potential.
Next, we will explore what US Consumers expect in metaverse experience expansion in the future. Contact us to learn more and to discuss how to start building your metaverse strategy roadmap.
This post was written by Diana Sheehan, Principal – Consulting Services.
