The Pulse Special Edition: Into the Metaverse

The Pulse of the American Consumer is focused on continued insight into consumer sentiments for businesses across all industries. 

 

We are bringing you a Pulse of the American Consumer Special Edition on all things metaverse. From what it is to how consumers feel about it, consumers have opinions and interest in this evolving virtual universe.  In order for businesses to have the most success connecting with their consumers, they have to understand them – what they are interested in, what they need, and how they feel. At ENGINE, we have the real-time pulse of the consumer, today, and always. Throughout 2022, we will be offering weekly insights by identifying important data points and trends from the voice of the consumer.

 

Key Findings as of March 11, 2022:

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The Pulse of the American Consumer 2022 Special Edition - Metaverse pt 1
The Pulse of the American Consumer 2022 Special Edition - Metaverse pt 2
The Pulse of the American Consumer 2022 Special Edition - Metaverse pt 3

If you would like more information on ENGINE CARAVAN surveys, contact us below:

At ENGINE, we will be keeping up with the pulse of the consumer throughout 2022, and are regularly running our CARAVAN surveys on current social issues. Contact us at caravaninfo@enginegroup.com for more information or for the full CARAVAN survey findings.

This Online CARAVAN® omnibus surveys was conducted on March 9-11, 2022. Approximately 1,000 adults selected from opt-in panels were surveyed. The results are also weighted to U.S. Census data to be demographically representative.

Written by the CARAVAN team at ENGINE Insights.

The Pulse of the American Consumer
Special Edition – Into the Metaverse

While 68% of American adults have heard of the term ‘metaverse’, just 38% claim to know anything about it.

51% of Gen Z, 52% of Millennials, and 41% of Gen X know something about the metaverse, while just 21% of Baby Boomers do.

Nearly half (49%) of men claim to know about the metaverse, while just 27% of women do.

  • 11% I am aware of it and know a lot about it
  • 27% I am aware of it but know just a little about it
  • 30% I have heard of the term but don’t know anything specific about it
  • 32% I have never heard of the term

With this in mind, ENGINE provided more information about the metaverse…

As you might have heard or are already aware, the metaverse is a virtual world where users can interact and experience things as they would in the physical world such as shopping, traveling, gaming, or attending events.

Using current augmented and virtual reality technology, as well as mobile devices and computers, users can immerse themselves into this world and interact with overlaying objects and people in the visual projected in front of them. As one example, users would be able to create digital objects and buy, sell, or trade them in these virtual environments.

…and asked a question: knowing this, how interested are you in learning more about the metaverse and how it may have an impact on day-to-day life in the future?

48% of American adults are interested (17% very interested, 31% somewhat interested) in learning more about the metaverse and how it may have an impact on day-to-day life in the future.

  • 68% of Gen Z and 63% of Millennials are interested in learning more about the metaverse, while 47% of Gen X and just 31% of Baby Boomers are currently interested.
  • 55% of men are interested in learning more, compared with 42% of women.

Regardless of current familiarity with the metaverse, American adults show moderate levels of interest in several specific examples of experiencing it in the future.

  • Traveling virtually to anywhere in the world to a vacation/destination/resort
    • 59% Very/Somewhat Interested (NET)
    • 24% Very Interested
  • Attending a virtual classroom/educational setting
    • 52% Very/Somewhat Interested (NET)
    • 18% Very Interested
  • Having the ability to interact and gather with others to attend digital concerts, sporting/ gaming events or shows as an animated version of yourself/as an avatar
    • 52% Very/Somewhat Interested (NET)
    • 16% Very Interested
  • Having a far more immersive sensory experience with a brand, going beyond just seeing and hearing
    • 50% Very/Somewhat Interested (NET)
    • 17% Very Interested
  • An enhanced retail experience by which you can explore a replica of the store and see and touch a product in a virtual space
    • 49% Very/Somewhat Interested (NET)
    • 17% Very Interested
  • Being able to work/attend meetings with colleagues in a virtual workspace
    • 49% Very/Somewhat Interested (NET)
    • 16% Very Interested
  • Having the ability to interact in a virtual setting with brands and address specific questions/concerns about products in real-time
    • 49% Very/Somewhat Interested (NET)
    • 15% Very Interested
  • Being able to purchase or sell a virtual plot of land, and interact in a community/neighborhood
    • 38% Very/Somewhat Interested (NET)
    • 13% Very Interested

 

To what extent do you agree or disagree with these statements, based on the metaverse description and examples previously provided?

  • I am concerned it will cost too much money to truly enjoy the metaverse by having to purchase enhanced technology products/services
    • 75% Very/Somewhat Interested (NET)
    • 32% Very Interested
  • I am concerned that a lack of regulation around the metaverse would lead to a lot of unethical, illegal behavior
    • 72% Very/Somewhat Interested (NET)
    • 31% Very Interested
  • I am worried that by exposing people in an immersive environment like the metaverse, it will become increasingly difficult to determine what is real and what isn’t
    • 68% Very/Somewhat Interested (NET)
    • 27% Very Interested
  • Interacting in such an immersive setting would likely escalate instances of bullying, harassment, or discrimination, rather than resolve them
    • 65% Very/Somewhat Interested (NET)
    • 21% Very Interested
  • I am intrigued at the thought of taking part in immersive experiences such as destinations and entertainment events that are otherwise not attainable today
    • 57% Very/Somewhat Interested (NET)
    • 18% Very Interested
  • Due to the disruption and lifestyle changes brought on by the pandemic, I am now more open to the idea of experiencing digital settings like this going forward
    • 54% Very/Somewhat Interested (NET)
    • 17% Very Interested
  • I look forward to opportunities the metaverse will bring to stay further connected to my family/ friends/colleagues
    • 53% Very/Somewhat Interested (NET)
    • 16% Very Interested
  • I feel that development of immersive experiences in the metaverse will create jobs and boost economic activity
    • 52% Very/Somewhat Interested (NET)
    • 13% Very Interested
  • I am excited to ‘live out’ the potential experiences of the metaverse as soon as I can
    • 41% Very/Somewhat Interested (NET)
    • 12% Very Interested
  • I would be comfortable using cryptocurrency as the standard form of payment in the metaverse
    • 36% Very/Somewhat Interested (NET)
    • 12% Very Interested