Toy market news

What Gen Z wants to see from brands as metaverse attachments grow

Gen Z consumers spend twice as much time socially interacting in the metaverse than they do in real life, according to new research conducted by Vice Media Group and Publicis Groupe's Razorfish agency. The study draws a link between playing video games and the metaverse, a broad buzzword encompassing blended digital and real-world experiences.

The age group carries bigger aspirations tied to these online spaces, with over half (52%) of Gen Z gamers reporting they would like to make money in the metaverse and one-third desiring to build a career there. Twenty percent plan to direct their "fun" budgets allocated for entertainment and leisure to in-game purchases over the next five years, representing an average annual spend of about $50.

In turn, one-third of Gen Zers would like to see brands develop virtual stores, and 30% were receptive to brands selling skins and apparel to outfit digital avatars. Marketers must be mindful of remaining unintrusive, as 63% of respondents stated they were concerned about data privacy in video games and the metaverse. Still, those figures are lower than for millennials (66%) and Gen X (70%), underpinning a budding acceptance of branded virtual experiences among younger cohorts.

retaildive.com