Defined as a future iteration of the internet, the metaverse refers to a virtual reality world created by computer programming in which digital representations of people can interact and generate a shared space. First coined in Neal Stephenson's 1992 science fiction novel Snow Crash, the metaverse became a household name following Facebook's rebranding of its company identity to Meta Platforms in October 2021. At the same time, the COVID-19-propelled shift toward digital transformation spurred an increasing number of brands to hop on the metaverse train. The
was projected to reach 679 billion U.S. dollars in 2030, up from less than 50 billion in 2022.
amounted to an estimated half billion dollars in 2022 – projected to rise to 2.52 billion in 2030.
Leveraging new worlds to lure new consumers
The metaverse is capturing the attention of both businesses and consumers, with more than half of American marketers planning to use it to
reach and retain target audiences. Among other experiences, they aimed to use the metaverse to facilitate communication between customers and brand representatives. Metaverse strategies primarily
targeted Millennial and Gen Z consumers, while Meta and Fortnite were the two most popular metaverse providers. Nike was one of the pioneers in the mainstream. The sportswear giant teamed up with Roblox in 2021 to generate a virtual world called Nikeland, where players competed in various games and purchased virtual merch from the apparel brand itself.
Between awareness opportunities and security doubts
Among companies that had already invested in the metaverse worldwide, four out of 10 said they harbored doubts about the
digital environment's cyber security. On a more positive note, most U.S. marketers said the metaverse could help them solve brand awareness and visibility challenges. When asked to provide a
forecast of the metaverse in five years, eight out of 10 American marketers agreed that consumers would be spending most of their online time in the virtual habitat. Most respondents were also confident that the metaverse would have a constructive impact on marketing.
Virtual influencers are real and here to stay
Virtual influencers enjoy a vast presence in markets such as Japan, South Korea, and China, with big names such as Samsung and Gucci using computer-generated human-like characters for campaigns in and out of the metaverse. Despite not being household names in the U.S. yet, digital avatars are gaining traction stateside – with almost half of American consumers aged between 35 and 44 stating they have
bought a product or service recommended by a virtual influencer. Most U.S. marketers expressed interest in working with metaverse influencers. At the same time, more than a third stated they would not disclose to consumers that a virtual influencer they employed
was not an actual person.
Consumers crave exclusivity
U.S. consumers have expressed interest in interacting with brands in new virtual environments. Nine in 10 expected the metaverse to play a significant role in how they shop and interact with brands. Access to new products and exclusive releases ahead of their real-world launch were two
experiences that would encourage consumers to engage with a brand on the metaverse. Personalization and repeated engagement will be critical for brands to thrive in this new digital frontier.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
