Consumer demand for metaverse shopping grows

Consumer demand for virtual products in the evolving metaverse is growing, according to new research.

Software company Productsup questioned 5,700 consumers across the US and Europe, asking them about their preferences, expectations and behaviour towards hybrid shopping experiences.

The research found that 40 per cent of shoppers were currently “excited” to buy virtual products that will “enhance their experience”. This is especially true for younger generations, as acceptance of virtual goods was twice as high for those aged 16-24 (50 per cent), compared to those aged 55-plus (26 per cent).

But to successfully drive sales in the metaverse, companies need to ensure their products and experiences match consumer preferences, showed the research.

Almost half of consumers (46 per cent) said experiencing life-like features virtually is the leading factor that would entice them to make a purchase in the metaverse.

Faster return processes (45 per cent), and the ability to place an order in the metaverse for a physical product that is delivered in the real world (44 per cent) are other leading factors.

Most interested in making purchases in the metaverse are consumers based in Spain (63 per cent), Italy (55 per cent) and the US (47 per cent).

The least interested were Denmark (31 per cent), the UK (32 per cent) and Norway (36 per cent).

In addition, the report found that 88 per cent of consumers value sustainability, with 67 per cent of shoppers more likely to purchase products if sustainability information is “well-presented”.

“As the hype for shopping in the metaverse increases, there is an expectation for bigger, better virtual experiences,” said Marcel Hollerbach, chief innovation officer at Productsup. “Yet our research suggests that the same principles of commerce that apply now will also rule metaverse engagements.”

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