But with data privacy being a significant concern, brands must ensure they remain unintrusive.
A study conducted by Vice Media Group and Publicis Groupe found that Gen Z consumers spend twice as much time socially interacting in the metaverse than they do in real life. While 52% of Gen Z gamers would want to make money in the metaverse, one-third of them desire to build careers in the virtual space.
Similarly, 20% of Gen Z gamers plan to direct their budgets allocated for entertainment and leisure, towards in-game purchases over the next five years. One-third of Gen Zers would like to see brands develop virtual stores. Similarly, 46% of Gen Z want brands to offer free products and experiences.
About 30% of Gen Z respondents were receptive to brands that sold skins and apparel to outfit digital avatars in the metaverse. But at the same time, 63% of respondents expressed concern over data privacy in video games and the metaverse at large. The corresponding figures for Millennials and Gen X stand at 66% and 70%, respectively.
[3 minute read]