Nearly three-quarters of consumers say they have heard of the “Metaverse,” as of March, according to Marketing Dive. That’s a noteworthy bump in awareness compared to last July (32%). But familiarity does not equate to understanding.
A March 2022 survey by Wunderman Thompson Intelligence in the US, UK and China (shared with Marketing Dive) found that 74% have heard the term metaverse. Does that mean the metaverse has already entered the mainstream?
The study also found that just 15% of respondents felt they could explain what the metaverse is to other people. Despite this, two-thirds of consumers believe the concept could be life-changing, 68% described it as the “next internet” and 74% stated it is representative of the future.
Marketing Dive commented that most people simply have heard the term. That does not correlate to education about its innerworkings, as few would feel confident describing what the metaverse is in practice. Wunderman Thompson Intelligence describes it, at the most basic level, as “an extension of our lives enhanced by technology.” Given the knowledge gap, the growing belief among consumers that the metaverse represents “the future” might need to be taken with a grain of salt.
Worries persist around the metaverse, with 72% of parents concerned about children’s privacy and 66% about children’s safety. Still, the study, which surveyed over 3,000 people in the 16-65 age range in the U.S., the U.K. and China, indicates that the metaverse has earned a spot in public discourse that could help hurry along its adoption.
In an encouraging sign for brands, 89% of consumers surveyed by Wunderman Thompson Intelligence said the advertising industry would be impacted by the metaverse. Other top-ranking categories included retail (86%), fashion (85%) and finance (82%), while food and beverage landed at the bottom of the list (74%).
Source: Adams, P. (2022, May 6). Metaverse goes mainstream, but most consumers still don’t understand it. Marketing Dive.
Member Only Access
