Consumers keen to shop, interact with brands in the metaverse: report

A new survey has found consumers in the United States plan to shop, share, and engage with brands in virtual environments. 

87% of consumers surveyed in Sitecore's Perceptions of the Metaverse survey say the metaverse will play a significant role in the way that they shop and interact with brands. Another 79% expect to spend more time in the metaverse than on social media apps, like Facebook and Instagram.

Surveying more than 300 marketers, the report found more than two-thirds (69%) plan to build experiences in metaverse-like environments in 2023 and 48% plan to invest up to 10-25% of their marketing budgets in metaverse experiences.

These findings contrast somewhat with the global Campaign CMO Outlook which found that senior marketers are split when it comes to investing in the metaverse. 

“When it comes to consumer interest and the need for marketers to start planning for and building metaverse-like experiences, the moment has arrived. Our 2022 metaverse survey reports that consumers expect marketers and brands to devote significant budget and time to creating metaverse experiences that live up to their expectations, are inclusive, unique and personalised,” said Paige O'Neill, chief marketing officer of Sitecore.

“The metaverse presents a new marketing frontier to engage and connect with consumers. Brands and marketers who understand and are starting to embrace and explore this new frontier are already ahead of the game.”

Key highlights 

• 31% of marketers say the metaverse is already part of their current marketing program, more than half of marketers (56%) are already investing in “metaverse-like technologies,” such as augmented reality or virtual reality.
• For marketers, early investments into mixed reality are a strategic metaverse play with consumers saying they’ll use a virtual reality console (47%) or gaming console (33%) to access and spend time with brands in the metaverse.
• More than half of consumers (51%) will use the metaverse to escape the reality of the rising cost of living (60%), threat of viruses (46%) and risks associated with climate change (41%).
• 50% of consumers want their metaverse avatar to look like them, nearly two in five (38%) would create an avatar that looked like them with a few “improved physical features.”
• 35% plan to enhance their avatar say they’re uncomfortable sharing their true identity and don’t want to be stereotyped in the metaverse (25%).
• 79% of consumers want to meet new friends spend time with friends and family, learn about new cultures (87%) and even make a love connection (54%).
• Nearly two in five consumers (38%) say they’d be more encouraged to participate in a brand’s experience if they were able to join and connect with a community of “like-minded people” who were just as passionate about the products, services and brand as they are

This week, Campaign's media and technology editor Shawn Lim is reporting from the Sitecore Symposium 2022 conference in Chicago.