Ah, the metaverse. There’s that buzzword again.
What is it? And where do you find it?
Some consumers might have those exact questions. A Piper Sandler of survey 7,100 U.S. teenagers from April found that 48% said they are unsure of or not interested in the metaverse. Even more, a September report from Wunderman Thompson Intelligence found that only 38% of global consumers were familiar with the concept.
Whatever it is, retailers are diving head first into it — and there are plenty of users watching.
Companies across the industry are increasingly holding activations on platforms deemed to be part of the metaverse. Definitions of what the metaverse actually is (or is meant to be) can vary, but generally, it is a virtually immersive version of the internet. Roblox, Decentraland and Sandbox are all spaces retailers are exploring to tap into the metaverse, even if they aren’t as interoperable as some want them to be at the moment.
Roblox may be one of the biggest platforms with 58.8 million daily active users, a 24% increase from a year ago, according to its latest earnings report. The platform is resonating with younger users as well: As of Q2, 24.2 million daily active users were under the age of 13, according to Statista.