Metaverse Will Continue to Sway Consumers’ Minds Despite Turbulent Market Conditions

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December 17, 2022 by Mishal Ali

The Metaverse and its potential value continue to sway consumers’ minds despite turbulent market conditions over the last year. Based on recent research, in 2023, “43% will use virtual reality to inspire their choices.”

A survey report named “Travel Predictions 2023” by the well-known online travel operator Booking.com was published, and it included views from 24,179 people in 32 different nations and territories. Adults who intend to travel for work or pleasure in the upcoming 12 to 24 months were selected for the research.

Even while the globe isn’t quite ready to accept travel in the style of science fiction films yet, it gives tourists a preview of what they may expect to see. By seeing it digitally first, 43% of people will use virtual reality to inform their decisions, and 46% of people are more inclined to travel than they otherwise would have been.

However, the report also found that over 35% of those polled said they would participate in a multi-day AR or VR travel experience, indicating that some people are eager to spend many days in the Metaverse.

As haptic feedback technology advances, virtual travelers will soon be able to feel the sand between their toes and the sun on their skin without even having to step outside.

While on the other hand, 60% of travelers feel that traveling virtually isn’t as satisfying as going there personally. So, for the most part, their estimates for travel in 2023 don’t involve people switching from sunglasses to VR goggles.

93% of Adult Consumers Are Metaverse-CuriousData from another survey by Capgemini, a business and technology strategy advisor, shows that just 4% of their survey respondents are tech enthusiasts who now have the most interest in the Metaverse.

“Metaverse-experienced consumers” is what they refer to as this 4% of their sample population. But this limited acceptance does not imply a lack of customer interest or attention.

The report stated that “93% of adult consumers surveyed are metaverse-curious.” They fall into three groups,  the first (51% of the survey population), who would utilize the Metaverse once it is available to them.

Source: CapgeminiSecond, 31% of poll respondents said they would use it once their friends and relatives did. Third, 11% of respondents said they would utilize it, but not in its current form.

Additionally, customers from countries like Canada, South Korea, and Japan are more likely to have used the Metaverse than those from countries like Spain, the UK, and the Netherlands.

Source: CapgeminiRelated Reading | U.S. FSO Council Recommends Crypto Legislation To Address Regulatory Gaps: Report

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