Graduated from Montpellier Business School and Paris 1-Sorbonne, with experience in the world of banking and insurance, Laurent Pignot maintains such a passion for cryptocurrencies that one day he wants to launch a media dedicated to the popularization of these alternative assets. What attracts this fan of sports and gastronomy? As a good representative of his generation, the decentralized and disintermediate dimension of these currencies. What drives it? Adrenaline is linked to the investment game.
For a large part of the population, if not the majority, living on the border between the real and the virtual seems strange, even a little sad and scary. But at the same time, the biggest in this world have all embarked on this new web which aims to change the paradigm of the internet. The metaverse, they say, is almost there. Nike, Gucci, L’Oral, Victoria’s Secret, Walmart, Puma, Under Armour, McDonalds, Disney and not forgetting, of course, the tech gloves that carry the Web3 at arm’s length launch into the metaverse. In this context, it is reasonable to spend some time to see if this reality lives up to the hype.
Of course in the wake of Meta, many companies are wondering if they should be a part of this new web. In other words, they think about how they could navigate the metaverse, where they could start, and what they could really get out of this Web3. To do it quickly and not be too redundant with everything you may have read, heard or seen on the subject of the metaverse, we will summarize this concept into a digital experience on the Internet that is immersive, three-dimensional and virtual where it is possible to play, work, buy, socialize… For more details, you can take a look at my article which elaborates on the topic: Metaverse: the world of tomorrow?
Although many stock exchange giants are throwing themselves wholeheartedly into the metaverse ecosystem, many other companies are still waiting to find their place, that is, to find the balance between risk and reward. Yes, because if L’Oreal Where Nike investing in the metaverse, they have a cash flow that allows them to establish a foothold, or should I say a storefront, on a digital plot. However, for smaller businesses the issues may be different and it is necessary for them to bear in mind the issues involved. Let’s take the height.
Estimation of metaverse use cases among consumers
and companies worldwide in 2026
25%: Percentage of people who will spend at least one hour per day in the metaverse for work, shopping, education, socializing, and entertainment.
30%: Organizations that want metaverse-ready products and services
Is it a reality or a digital utopia to abandon Zoom or Teams to meet a hologram or avatar of a customer, a supplier, an employee in a virtual meeting room? According to the forecasts, our working habits may soon be disrupted. However, it is not a priori a matter of completely eliminating human contact, but rather of offering more immersive and more personal interactions on the Internet. If these experiences develop, the market for virtual and augmented reality, which is collectively connected to the metaverse, should take a big boost:
Global Augmented Reality (AR) and Virtual Reality (VR) Market Size
from 2021 to 2024 (in billions of dollars)
Meta, Google, Apple, Baidu, Microsoft among others have all joined the race for headphones or augmented reality glasses. A market that, according to forecasts, should explode in the coming years. Although these new trends seem very far from our current daily life, if we go back a few years we can see the technological upheavals that have followed each other: from the MP3/CD player to Spotify on our smartphone, from MSN to TikTok, headphones connected to wireless Bluetooth headphones, the emergence of connected watches or the connected speaker with which we can talk are examples among many others.
Our world is changing. A world where innovation chases another, and we bet many things will change in the next decade, and we might be foolish to hide the progress of the metaverse. In this sense, let’s ask ourselves the right questions, what is the interest for companies starting into the so-called “Web3”?
A unique shopping experience
According to a study conducted by Top total insight, more than 77% of online consumers abandon their shopping cart before completing their purchase. A phenomenon that indicates that retailers still have some way to go to convince customers to complete their purchases on the Internet. Is the metaverse the cornerstone? A study conducted by Obsess, titled Metaverse Mindset: Consumer Shopping Insights”, showed that 70% of consumers who visited a virtual store ended up purchasing an item.
Product Categories American Internet Users Want try via AR/VR before you make a purchase
It appears that the “clothing” category is the most popular among Americans when it comes to AR/VR immersion in commerce. Could the metaverse of augmented reality therefore definitively convince consumers to go through the purchase process thanks to a more satisfying user experience? It is probably too early to confirm any data that would go in this direction, but it is clear that the first trends are emerging. In this sense, according to Bloombergshould the metaverse sector as a whole grow by double-digit growth in the coming years to reach $800 billion by 2024.
Metaverse Market Growth Forecasts
A generational issue?
Before we jump into the deep end, let’s take a generational inventory. Generation X is represented by people born between 1960 and 1980 to be broad, Generation Y was born between 1980 and 2000 (more precisely from 1982 to 1997 for the experts, although they do not all agree on exact dates) and Generation Z from 2000.
According to Obsess and its survey Metaverse Mindset: Consumer Shopping Insights“,
“75% of Gen Z shoppers have purchased a digital item in a video game, and 60% of these younger shoppers believe brands should sell their products on metaverse platforms. Among Gen Zers who believe brands should sell in the metaverse, 54% believed people should be able to shop wherever they go online, while 45% said metaverse environments should resemble online shopping malls.
It is also mentioned in this study that a quarter of the respondents have made online purchases in a virtual 3D store. This group (¼ of people who have purchased in a virtual store) consists of 69% of Generation Z, 77% of Generation Y and 67% of Generation X. These virtual stores are considered by brands as a gateway to access the metaverse. In addition, more than the majority of each generation in this group is ready to renew the shopping experience in a virtual 3D store.
And yet note that 40% of all respondents believe that the metaverse is still in the conceptual stage and that it will take “possibly in the form of connected online technology platforms that people navigate using a digital avatar.“
The previously cited study was conducted among 1,001 US consumers surveyed online by Kantar from December 22 to December 29, 2021. A relatively small sample to extrapolate results nationwide. To give this study a little more weight, another study by Snap and Deloitte revealed that by 2025, more than 50% of the world’s population will use social applications that offer augmented reality.
Number of augmented reality users worldwide in 2025 according to their generation
More than 4 billion people are expected to use AR apps by 2025. A survey of 15,000 consumers in Australia, Canada, France, Germany, India, Japan, Malaysia, Mexico, the United States, the Netherlands, Norway, Saudi Arabia, Sweden, the United United Arab Emirates, Great Britain and the United States.
The study reveals another staggering statistic: “Interacting with products that have AR experiences leads to a conversion rate of over 94%”. We understand a little better why companies enter the AR industry against the background of the metaverse. It seems that augmented reality technology can solve significant problems for some brands, including the ability to significantly increase the conversion rate of online users.
In the end, we understand a little better the interest of brands to engage in the metaverse and in augmented reality. On the one hand, the new generations are used to living between the virtual and the real (social network, video games, online banking, shopping, etc.). For example, an American spends an average of 24 hours a week surfing the Internet (source: MIT technology) and the video game player spends an average of 800 hours a year in Halo, Call of Duty, Minecraft… Generations that will be more skilled on the new Web3 platforms. Naturally, companies want to reach out to these generations to market their services on these platforms.
On the other hand, according to the first studies carried out on the metaverse and augmented reality sector, companies will have a prior interest in offering services related to these technologies. As we have seen, achieving a high conversion rate has proven to be a real dilemma for businesses today. It could be that the metaverse could optimize the marketing of services on the Internet and make it possible to address new generations differently. Although many questions arise from an ethical, technological, economic and social point of view, here we understand a little more the interest of companies to venture into the metaverse: a commercial and generational interest. I am preparing articles for you that explore the ethical, technological, economic and social facets of Web3.
In the meantime, find our thematic list, which highlights the publicly traded companies linked to the metaverse:
Theme list: Metaverse