Wenderman Thompson Intelligence this week published New Realities: Toward the Metaverse and Beyond, Adland’s analysis and roadmap expanding on metaverse research. While the statistics and survey are valuable, this new paper shows clear directions for brands and agencies in the tech space that 74% of people feel will be the future.
In the year New Facts from the 2022 Metaverse Survey: Research conducted in March by Metaverse and Beyond — of more than 3,000 people ages 16-65 in the United States, United Kingdom and China — has more than doubled awareness of the Metaverse in a short period of time. More than a year. While just under a third (32%) had heard of the term in July 2021, almost three-quarters (74%) had heard of the term by March 2022.
Although awareness has increased, awareness is low. The survey confirmed that there is a lack of clarity as to what the term means, with only 15% knowing what it is and being able to explain it to someone else.
While we can’t explain the metaverse, consumers believe it promises to have a profound impact on our lives, and 2-thirds of those who know what the metaverse is believe it will change lives, with 74% saying it’s the future.
Emma Chiu, Global Director of Wunderman Thompson Intelligence and author of the reports; “As more parts of our lives than ever move into the virtual world, it’s becoming increasingly clear that the metaverse will be important to our collective future, and our follow-up survey reveals the promise that it will herald major changes across industries. “
Areas where consumers expect to see innovation are followed by entertainment and advertising and retail, where 90% of respondents hold this belief. Meanwhile, 85% believe Metavas will have an impact on the fashion industry and the world of work.
As many are still assessing the impact of new screen-based habits, alongside the continued blurring of virtual and physical worlds, the latest, accompanying report includes fresh data and several other critical insights:
- Retail brand analysis shows the evolution of digital and physical marketing, sharing case studies including Nike on Roblox, Forever 21’s Shop City and Fred Segal’s Artcade.
- The financial section of the report lists the top banks, credit companies and crypto literacy projects associated with the development of virtual currencies. The result is that many of these currencies are becoming a major economic force for businesses and countries, with many participating in nationally controlled crypto experiments.
- Health & Wellness shares insights into the deep connections between digital and physical care for physical and mental health. Browse surveys from Sims to CVS.
- Food brands have entered the mainstream with restaurants and beverage brands facilitating the connection between food and social networking. From Coca-Cola’s Indian wedding to Flyfish’s member-only restaurant where NFTs are exchanged as proof, this sector shows true creativity.
Naomi Troni, Global Head of Marketing and Development, Wunderman Thompson added: “It is imperative that brands develop a roadmap to enter the metaverse. However, there are also concerns about privacy, security and safety. So while our latest findings point to limitless opportunities for brands – allowing them to rethink what their products, services and consumer engagement should look like – we must enter this new world with caution.