Consumers enter the metaverse
The results of the KPMG Consumer pulse survey | Spring 2022 reveal that the metaverse is here and consumers are embracing it, providing new ways to interact and shop. Our survey found that nearly two-thirds of consumers are familiar with the metaverse; 71 percent of the men, and 59 percent of the women in our study. Limited only by the imagination, consumer and retail organizations that are ready to take advantage of new business opportunities and selling channels will win by developing a strategy for this market.
Metaverse familiarity by demographic segment
Whether it’s shopping, going to the movies together, or just hanging out, the metaverse is providing a forum where consumers feel they can interact in meaningful ways. With 30 percent of survey respondents claiming to own a virtual reality (VR) device, and males and households with upper incomes claiming even higher percentages, the metaverse is fundamentally transforming how consumers can shop and interact with brands.
Forty-six percent (46%) of consumers in our survey agree that “the metaverse can provide a forum to interact with friends in a way that is as meaningful as in person.”
Virtual reality (VR) device purchase by demographic segment
As consumers spend more time in virtual worlds, there are exciting opportunities for organizations to expand their reach. Gaming partnerships are a key example of brand entrance opportunity, where retailers can leverage existing platforms to develop new consumer experiences, blending sports, games, and fashion. Consumers can create their own worlds individually or with others, purchase tickets to concerts, shows, and other events as shared digital experiences. Retailers looking to build a brand presence and create brand experiences can reach a vast consumer audience.
According to the survey, the median time spent on VR devices per week for adults is 3 to 5 hours; parents estimate their children spend 8.5 hours a week in the metaverse. Forty-three percent (43%) of parent VR owners have purchased a device for their child(ren).
Hours per week on VR device: Adults
Hours per week on VR device: Children
*Totals may not sum to 100% due to rounding.
Read the report
The KPMG Consumer pulse survey series explores key, emerging themes around consumer behaviors, purchasing patterns and the economy. Each survey asks 1,000 U.S. consumers, representing all demographics, timely questions about upcoming purchases and economic conditions. We conduct the surveys to help our clients understand consumers, uncover the signals of permanent change and create basis for transforming their businesses to meet customers where they are.