You might think that TikTok is annoying and roll your eyes at influencers who are selling products like hotcakes when they drop via gaming platforms, but whilst you’re eye-rolling, Gen Z are spending their pocket and part-time job money online, in the Metaverse.
This generation has always known digital. They spend twice as much time socially interacting in the metaverse than they do in real life, according to a study by Razorfish and Vice Media Group. More than half (57%) said they feel freer to express themselves in games than they do in real life, with 45% reporting that their in-game identity is a truer expression of who they really are.
So let’s stop and think about this for a moment. This is a generation born with the online world, who feel more comfortable online. Increased amounts of time are spent gaming, and Gen Z have expressed the desire to not only spend more money in metaverse stores (think putting Vans on your Avatar old-timers), but they also want to make money in this area too.
With virtual influencers on the rise, and authenticity still king, our future leaders (and spenders) are playing in an online space that we can’t ignore.
Our advice? This is currently an unregulated space, and brands need to be cautious stepping in. Stop freaking out, and watch and listen. And learn. Next time your Gen Z’er or Alpha is online, hold fire before demanding that they down tools and take note of their current Metaverse…
These platforms are open for anyone to join, and this generation is not only going to keep spending their money in this area, their spending power will grow. If you’re in a position to explore, do so, with caution.
Read more here: https://www.businesswire.com/news/home/20220419005232/en