Metaverse shopping experiences catching on with UK consumers, Toluna research finds
With blockchain technology ushering in a new digital era in the form of Web 3.0, a new Toluna study explores consumer perceptions of emerging concepts, such as non-fungible tokens (NFTs) and the metaverse.
Research was conducted among 10,500+ people aged 18+ across 19 global markets in May.
The metaverse
82% of UK respondents are aware of the metaverse, while one-third have both heard of it and know what it means.
When asked about the activities they are most interested in experiencing within the metaverse, Brits rank shopping first (43%), closely followed by watching TV and movies (40%), then gaming (33%) and learning (32%).
Regarding metaverse platforms, Roblox is the most popular – used by 54% of UK respondents who have explored a metaverse. When looking to harness the potential of virtual spaces, for instance through Roblox’s recently announced Partner Programme, keeping in touch with consumer sentiment is highly important.
At present, 27% of Brits are curious about the metaverse, but 32% cite lack of privacy as a concern.
NFTs
19% of UK consumers have both heard of NFTs and know what they are, with a further 34% being aware, but not fully understanding them. As a possible result of this, NFTs have yet to become mainstream, with 67% of respondents having never purchased one.
Looking at the digital goods UK consumers purchase, “clothing or accessories for an avatar” comes out on top (7%), aligning with the global interest in NFTs for games and virtual social experiences. This is followed by virtual real estate (6%) and NFT art (5%).
Social media is the most likely source of information about NFTs for 33% of UK consumers with 53% sourcing information from YouTube.
This makes YouTube the most used platform for this by far when compared to Facebook (37%) and Google Search (32%). Other sources of NFT information include online articles (26%), TV or radio (23%), and friends or colleagues (21%).
Chris Dean, Associate Director Technology Research at Toluna, comments: “Web 3.0 is heralded as a next phase of the internet’s evolution, with the potential to transform the ways users interact with the digital world.”
“This opens exciting possibilities for brands to reshape how they engage consumers. While concepts such as the metaverse and NFTs are still emerging, forward thinking brands can experiment with them and help drive innovation within this space.”
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