Graduated from Montpellier Business School and Paris 1-Sorbonne, with experience in the banking and insurance world, Laurent Pignot maintains such a passion for cryptocurrencies that one day he aims to launch a vehicle dedicated to the disclosure of these alternative assets. What attracts this sports and gastronomy enthusiast? As a good representative of his generation, the decentralized and disintermediated dimension of these currencies. What drives him? Adrenaline is linked to the investment game.
For a large part of the population, if not the majority, living on the border between real and virtual seems strange, even a little sad and scary. But at the same time, the greatest in this world are all embarking on this new web that aims to change the Internet paradigm. The metaverse, they say, is almost there. Nike, Gucci, L’Oral, Victorias Secret, Walmart, Puma, Under Armor, McDonalds, Disney and without forgetting, of course, the tech gloves that bring the Web3 at a safe distance, are launching into the metaverse. In this context, it makes sense to take some time to see if this reality lives up to the hype.
Of course, in the wake of Half, many companies are wondering if they should be part of this new web. In other words, they are thinking about how they could navigate the metaverse, where they could start and what they could really get from this Web3. To make it fast 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 in a digital Internet experience that is immersive, three-dimensional and virtual where you can play, work, buy. , socialize … For more details you can take a look at my article that explores the topic: Metaverse: the world of tomorrow?
Although many stock market giants are wholeheartedly throwing themselves into the metaverse ecosystem, many other companies are still waiting to find their place, that is, to find the risk-reward balance. Yes because if L’Oreal Where is it Nike they invest in the metaverse, they have a cash flow that allows them to put a foothold, or should I say a showcase, on a digital storyline. But for smaller companies, the problems can be different and they need to keep in mind the problems that this implies. Let’s take the height.
Estimation of metaverse use cases among consumers
and businesses around the world 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 will have metaverse-ready products and services
Is leaving Zoom or Teams to meet a hologram or avatar of a customer, supplier, employee in a virtual conference room a reality or a digital utopia? According to forecasts, our work habits may soon be upset. However, it is not a priori a priori to completely eliminate human contact, but rather to offer more engaging and more personal interactions on the Internet. If these experiences develop, of course, the virtual and augmented reality market, which are jointly linked to the metaverse, should take a big push:
Global size of the Augmented Reality (AR) and Virtual Reality (VR) market.
from 2021 to 2024 (in billions of dollars)
Meta, Google, Apple, Baidu, Microsoft among others, have all entered the race for headphones or glasses for augmented reality. A market that should, according to forecasts, explode in the coming years. Although these new trends seem very far from our current everyday life, if we go back a few years, we can see the technological upheavals that have taken place: from MP3 / CD player to Spotify on our smartphone, from MSN to TikTok, wired headphones to Bluetooth headphones wireless, the advent of connected watches or the connected loudspeaker with which we can converse, 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 rise of the metaverse. In this sense, let’s ask ourselves the right questions, what is the interest of companies that launch themselves into the so-called “Web3”?
A unique shopping experience
According to a study conducted by Total insight, over 77% of Internet consumers abandon their shopping cart before finalizing their purchase. A phenomenon that indicates that retailers still have a long way to go to persuade customers to finalize their purchases on the Internet. Is the metaverse the keystone? A study by Obsess, titled Metaverse mindset: information on consumer purchases”Showed that 70% of consumers who visited a virtual store ended up purchasing an item.
Product categories US Internet users want test via AR / VR before making a purchase
It seems that the “apparel” category is the most popular among Americans when it comes to AR / VR immersion in the trade. Could the metaverse, with augmented reality, then definitively convince consumers to complete the purchase process thanks to a more satisfying user experience? It is probably too early to confirm data pointing in this direction, but it is clear that the first trends are emerging. In this sense, second Bloombergthe metaverse sector as a whole is expected to grow with double-digit growth over the next few years to reach $ 800 billion in 2024.
Metaverso market growth forecasts
A generational question?
Before we jump into it, let’s do a generational inventory. Generation X is represented by people born between 1960 and 1980 to be clear, Generation Y was born between 1980 and 2000 (more precisely from 1982 to 1997 for experts, even if not everyone agrees on the exact dates ) and Generation Z since 2000.
According to Obsess and his investigation Metaverse mindset: information on consumer purchases“,
“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 Z who think brands should sell in the metaverse, 54% believe people should be able to shop wherever they go online, while 45% said metaverse environments should resemble online shopping malls.
In this study it is also mentioned that a quarter of the respondents made online purchases in a 3D virtual store. This group (¼ of the people who bought in a virtual shop) is made up of 69% from Generation Z, 77% from Generation Y and 67% from Generation X. These virtual shops are considered by brands as a gateway to enter in the metaverse. Furthermore, in this group, more than the majority of each generation are ready to renew the shopping experience in a 3D virtual store.
And note, however, that 40% of all respondents believe that the metaverse is still in the conceptual phase and that it will take “perhaps the form of connected online technology platforms that people navigate using a digital avatar.“
The aforementioned survey was conducted among 1,001 US consumers surveyed online by Kantar from December 22 to December 29, 2021. A relatively small sample to extrapolate the results nationwide. To give this study a little more weight, another survey by Snap and Deloitte revealed that by 2025, more than 50% of the world’s population will be using social apps that offer augmented reality.
Number of augmented reality users in the world by 2025 according to their generation
More than 4 billion people are expected to use AR apps by 2025. A study of 15,000 consumers in Australia, Canada, France, Germany, India, Japan, Malaysia, Mexico, United States, Netherlands, Norway, Saudi Arabia, Sweden , United Arab Emirates, United Kingdom and United States.
The study reveals another staggering statistic: “Engaging with products that have AR experiences leads to a conversion rate of over 94%.” We understand a little better why companies are entering the AR industry against the backdrop of the metaverse. It would appear that augmented reality technology can solve significant problems for some brands, including the ability to dramatically increase the conversion rate of online users.
Ultimately, we understand a little better the interest of brands to engage in the metaverse and augmented reality. On the one hand, the new generations are used to living between virtual and real (social networks, video games, online banking, shopping, etc.). For example, an American spends an average of 24 hours a week browsing the Internet (source: MIT-Technology) and the video game player spends an average of 800 hours a year in the worlds of Halo, Call of Duty, Minecraft … Generations that will be more proficient on the new Web3 platforms. Of course, companies will want to reach 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 would, a priori, have an interest in offering services related to these technologies. As we’ve seen, achieving a high conversion rate is proving to be a real dilemma for businesses today. It could be that the metaverse could optimize the commercialization of services on the Internet and allow new generations to be addressed in a different way. 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 undertake the metaverse: a commercial and generational interest. I am preparing articles for you that explore the ethical, technological, economic and social aspects of Web3.
In the meantime, you can find our thematic list highlighting listed companies linked to the metaverse:
Thematic List: Metaverse