The rise of the metaverse, a network of interconnected 3D virtual worlds that offer an immersive experience, has caught the attention of companies looking to adapt to its potential beyond cryptocurrency. Facebook’s rebranding to Meta generated widespread interest in the metaverse, prompting other brands and companies to explore its possibilities for consumer connection and operational improvements.
In a recent study by Capgemini, a consulting and technology services provider, the state of metaverse adoption and public sentiments were examined. The research revealed that while some businesses and retail consumers are open to the metaverse and immersive experiences, there are still challenges that need to be addressed for widespread adoption.
According to Capgemini’s report, 58% of surveyed consumers believe that metaverse or immersive experiences, accessible through various platforms such as mobiles, web browsers, voice assistants, sensors, and extended reality (ER) headsets, can have a significant impact on product and service selection and purchase. Interestingly, only 29% of respondents were familiar with the metaverse compared to other enhanced experiences.
The study also found that respondents recognize the potential of immersive experiences to revolutionize product interaction. Approximately 77% of consumers surveyed believe that enhanced experiences will greatly transform their interactions with people, brands, and services. This includes innovative features like virtual try-on, which can be particularly valuable for retail shopping and the purchase of high-engagement products.
One major obstacle for online shopping identified by consumers is the lack of product interaction. The metaverse and immersive experiences can address this issue by enabling businesses to offer virtual interactions with products before and after purchase. In fact, 77% of respondents agree that an immersive experience would increase their online spending.
Looking at organizations, around 70% of those surveyed believe that the metaverse and immersive experiences could become key differentiators in the market. Additionally, a majority of employees within these organizations agree that these technologies can enhance consumer experiences and shorten the buying cycle.
Despite the optimism surrounding immersive experiences, only a few organizations are currently scaling consumer-focused initiatives. However, many are conducting pilot initiatives to explore the potential of this technology.
Interestingly, the survey found that a majority of consumers who own AR/VR headsets are interested in trying applications beyond gaming. In fact, 62% of respondents expressed a willingness to explore products and services using their headsets.
Immersive experiences also have internal operational benefits for organizations. Virtual Reality (VR), in particular, has proven useful in industries such as automotive, aerospace, and defense, improving productivity, efficiency, and security. For example, companies like Ford and Bosch have utilized VR to train technicians in maintaining and fixing issues with electric vehicles. In healthcare, companies like SentiAR are developing Augmented Reality (AR) tools to assist surgeons during cardiac and other invasive procedures.
The survey report also revealed that while metaverse-experienced individuals and tech enthusiasts display the highest level of interest in immersive tech, there is widespread curiosity among the general population. Up to 51% of respondents expressed their intention to use the metaverse once it becomes accessible, while 31% stated they would try it once their friends and family adopt it. Only 11% said they would use it, but not in its current state, indicating the need for further improvements.
Overall, the metaverse and immersive experiences have the potential to reshape various sectors, offering consumers new ways to interact with products and services, and providing organizations with opportunities for differentiation and operational advancements.
