In a new report, Wunderman Thompson preparing a mid-term report on the notoriety of metaverse and its resonance with consumers. “New Realities: Into the Metaverse and Beyond” is there to make more accessible and understandable what concerns this still too vague concept.
A new report by Wunderman Thompson
The Wunderman Thompson Intelligence agency publishes a new analysis this year. It focuses on the very rapid development of a science fiction concept, into a reality that turns our daily lives upside down day after day. The study, titled “New Realities: Into the Metaverse and Beyond,” was the subject of a March survey of more than 3,000 people aged 16 to 65 in the United States, the United Kingdom, and China. Note that this comes 9 months after a first report on the subject. Today, the agency shows that awareness of the metaverse has more than doubled in less than a year. While less than a third (32%) had heard of the term in July 2021, by March 2022 almost three quarters (74%) were familiar with the term.
A concept that needs to be democratized, again and again
Awareness is the key. However, understanding is still low. The study reveals that there is a lack of clarity about what the term means. Only 15% of respondents say they know what it is and can explain it to someone else. Although unable to explain the metaverse, consumers believe it promises to have a significant impact on our lives. And among those who know what metaversetwo-thirds think that will change “life”. In fact, 74% say that for them the metaverse is the future. And 66% of them believe that it is important for a life change.
Disrupted sectors of activity
The areas where consumers expect to see innovation are entertainment. 90% of respondents share this view. This sector is followed by advertising and retail. While many are still assessing the impact of metaverse through the prism of screens, this latest supplemental report addresses the significant changes it could have on “right” life. New data will quantify the effect that consumers project on certain key areas. Most believe that the metaverse can have a powerful impact on retail, finance, health and wellness, food and drink, the world of work, sports and entertainment, fashion or even beauty. Let’s take a look at some numbers:
- Retail trade : 86% of people believe the metaverse can impact retail. Of those who know about Metaverse, 70% believe it can be a favorite place to shop. And 68% believe it is the future of online shopping.
- health and well-being : 81% of people believe that the metaverse can affect the health and care industry. A surprising fact, since the virtual one does not experience the same health problems as the real one. But respondents believe that digital tools can help improve physical and mental health in the physical world. In the UK, US and China, 81% say they go digital to relax. 55% say they are physically healthier thanks to technology. And 56% say they are mentally healthier thanks to technology.
- food and drinks : 76% of people believe that the metaverse can also affect restaurants and bars. To support these statements, the report reviews the cases of Coca-Cola, Chipotle, McDonald’s and The Sims.
- The world of work : As the metaverse is set to reach $800 billion in global revenue by 2024, companies are investing, according to Bloomberg. From hiring talent and creating dedicated teams to recruiting the best architects to design virtual headquarters, no expense has been spared. Meta spends more than 10 billion dollars and Disney, Nike or even WPP recruit talent to develop their metaverse vision.
- Sports and entertainment : The global entertainment industry is no stranger to new technologies. Today, advertisers like Sony, Manchester City or Pooja Entertainment are doubling down on their ingenuity in the metaverse to seduce their targets.
Do you want to know more? Find the full Wunderman Thompson study below!
Download the full report
“New Realities: Into the Metaverse and Beyond” also coming back to NFTs which are experiencing a big boom. In fact, NFT sales reached $25 billion in 2021, up from $95 million in 2020, according to January 2022 estimates from DappRadar. This report also looks at the implications for our society. We may think that all these virtual measures may force us to stay at home. However, 53% of respondents agree that metaverse can ultimately bring people together. And 52% believe it has the potential to be more inclusive than the physical or offline world. While 76% believe it can have an impact on governments.
The metaverse is here, and it’s already changing our perception of reality. And it reports Wunderman Thompson Intelligence present has the ambition to help all stakeholders to participate in this great adventure.
To learn more about the agency, go to its French page!
Agency page Wunderman Thompson France