Home AR/VR Despite the rumor from the metaverse, 60% of consumers have no interest in virtual shopping

Despite the rumor from the metaverse, 60% of consumers have no interest in virtual shopping

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Despite the rumor from the metaverse, 60% of consumers have no interest in virtual shopping

Source: venturebeat.com

While buzz has surrounded the supposed infinite potential of the metaverse and AR/VR technology as tools for future online marketplaces, there has also been a decline in revenue for several e-commerce companies in recent years, leading to some organizations to go back to the drawing board when it comes to good digital CX. A new Productsup report has surveyed consumer tastes and expectations when it comes to digital hybrid shopping experiences, with a particular focus on sustainability and the metaverse. For many companies looking to increase sales in the digital marketplace, the results illustrate an uphill battle: According to the report, 60% of buyers have no interest in purchasing virtual goods.

With metaverse revenue expected to hit $800 billion by 2024, it’s no wonder forward-thinking organizations are eager to serve customers who aren’t already interested in spending just on line. Overall, the Productsup report results indicate that customers are primarily interested in digital CX that offers transparency, accessibility, and availability.

In the past decade, DEI and sustainability initiatives have risen to the forefront of consumer minds; As they decide whether to buy a company’s product, they are increasingly likely to inquire about it. why Y What said product is manufactured. Consumers tend to avoid products that will end up in a landfill, preferring instead those that are reusable (71%) or recyclable (70%). Despite this, consumers say that information on the reusability (34%) and recyclability (30%) of a product can be difficult to find.

In general, Gen Z consumers are more likely to purchase products from the metaverse compared to their older counterparts.
Source: Top Products

It is no longer enough to include a “fair trade” or “biodegradable” label on their paper coffee cups, for example, not only do 43% of consumers want a detailed explanation of how the product is biodegradable, but 40% % also want information. that shows that the product aligns with its “sustainable” label. “Consumers aren’t distracted by ‘greenwashing,'” said Lisette Huyskamp, ​​director of marketing for Productsup. “[Their] Expectations cannot be met unless product information is managed with strong P2C. [product-to-consumer] strategy.”

While consumers of all generations want more information about products, the best way to present that information depends on each generation. Gen Z welcomes the advent of the metaverse and digital-only shopping much more readily than their older counterparts. Similarly, Gen Z is much more likely to prefer information presented through online comparisons (40%) or QR codes (37%). At the other end of the generational spectrum, those over 55 tend to prefer information that is easy to find and included in the product description.

Finally, customers tend not to want an “either/or” shopping experience; that is, they want access to product information and offers that are accessible both in the metaverse Y the store. About the same number of consumers have indicated that they are more likely to buy a product if the deal is offered exclusively in a store rather than online (55% vs. 54%, respectively), meaning businesses should offer coupons and sales both in physical format and in physical format. and digital spaces. Technology that blends physical and digital shopping is also welcome: 47% of consumers would make a purchase if they could access product information through a store’s mobile app while shopping in person, for example. The use of augmented reality (AR) technology, such as smart mirrors and mobile filters, could also be used to engage consumers in-store (41%) or on a company website (42%).

Overall, the results indicate that while many consumers are looking forward to the expected increases in speed, convenience, and information offered by the metaverse and other digital marketplaces, they are still unwilling to abandon the tried-and-true methods of decades past. “In today’s world of commerce, brands and retailers must deliver nuanced experiences tailored to consumers wherever they shop,” said Huyskamp.

Productsup’s report is based on a survey of nearly 5,700 consumers age 16 and older in the US and Europe, asking about their preferences, expectations and behavior towards hybrid shopping experiences.

Read the full Productsup report.

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