In a new report, Wunderman Thompson made a mid-term report on the fame of metaverse and its resonance with consumers. “New Realities: Into the Metaverse and Beyond” is there to make it easier to get and understand what this vague concept is all about.
A new report by Wunderman Thompson
Wunderman Thompson Intelligence agency published a new analysis this year. It focuses on the very rapid evolution of the concept of science fiction, into a reality that turns our daily lives upside down every day. The survey, titled “New Realities: Into the Metaverse and Beyond,” is the subject of a study conducted in March among more than 3,000 people aged 16 to 65 in the United States. USA, UK and China. Note that this comes 9 months after the first report on the subject. Now, the agency has shown 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, in March 2022 almost three-quarters (74%) were familiar with the term.
A concept that becomes democracy, over and over again
Knowledge is the key. However, understanding remains low. The study revealed that there is a lack of clarity in what the term means. Only 15% of respondents said they know what it is and can explain it to others. Even if they can’t explain the metaverse, consumers believe it promises to have a significant impact on our lives. And among those who know what is metaversetwo-thirds think it will change “life”. In fact, 74% say that for them, the metaverse is the future. And 66% of them think it is important for life change.
Disrupted sectors of activity
Areas where consumers expect to see innovation are entertainment. 90% of respondents shared this opinion. This sector is followed by advertising and retail. While many are still investigating the impact of metaverse through the prism of screens, this latest complementary report addresses the significant changes it can make to “true” life. New data is coming to measure the impact that consumers plan on some important places. Most believe that the metaverse could have a powerful impact on retail, finance, health and wellness, food and beverage, the world of work, sports and entertainment, fashion or even beauty. Let’s look at some numbers:
- selling : 86% of people think the metaverse will affect retail. Of those familiar with Metaverse, 70% think it could be a favorite place to shop. And 68% think this 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, because the virtual does not experience the same health issues 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 Drink : 76% of people think 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, according to Bloomberg, companies are investing. From hiring talent and building dedicated teams to recruiting the best architects to design the virtual headquarters, no expense is spared. Meta spent more than 10 billion dollars and Disney, Nike or WPP recruited 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 inventiveness in the metaverse to attract their target.
Want to know more? Find the full Wunderman Thompson study below!
Download the full report
Meta-society
“New Realities: Into the Metaverse and Beyond” also returned to NFTs, which experienced a huge boom. In fact, NFT sales will hit $25 billion in 2021, up from $95 million in 2020, according to January 2022 estimates from DappRadar. This report also looks at the consequences for our society. We might think that all these virtual initiatives will force us to stay at home. However, 53% of respondents agreed that the metaverse finally brings people together. And 52% think it has the potential to be more inclusive than the physical or offline world. While 76% think it has an impact on Governments.
The metaverse is here and it is changing our perception of reality. And the reports that Wisdom of Wunderman Thompson the present has the ambition to help all concerned to participate in this great adventure.
To learn more about the agency, go to its French page!
Agency page Wunderman Thompson France