With much debate about the metaverse and how it will unfold, the question arises as to who constitutes APAC’s “metaverse generation” and what marketers need to know about them. increase.
A new survey conducted by Yahoo shows that 73% of APAC consumers are aware of the Metaverse, making it mainstream in the region. This is led by his APAC digital native, with a survey revealing that 66% of APAC millennials and Gen Z are “looking forward to the Metaverse.”
However, the key findings of this survey of 15,000 respondents in Australia, New Zealand, Japan, Taiwan, Hong Kong and Singapore are: These user groups are divided in how they envision the Metaverse and what they expect from it, and have different views on virtual social communities, avatars, immersive entertainment, and creative freedom.
Zoe Cocker, Director of Innovation and Creative Studios at Yahoo, said:
Cocker added: This very local level of detail and insight goes beyond the broader trends we see in the press, making them actionable for brands building in this space and wanting to create real value for their diverse audiences. I’m here. ”
5 Key Findings from the Metaverse Report
Yahoo has produced the following summary of the report’s findings
#1: Gen Z and Millennials want distinctly different things from the metaverse
Marketers will need to adjust their approach for different metaverse generations.
Generation Z is looking forward to building social connections in the Metaverse, an opportunity to break the rules, get rich, and live out their personal dreams. Equity and diversity are important to this group who believe everyone owns equal opportunities in the Metaverse.
Clues for Marketers — Important for Gen Z:
1: Virtual community: I want to build a social circle different from existing real-world
2: Digital Avatars: Show your uniqueness through your avatar and cherish the opportunity to meet new friends.
3: Generation Z wants “total customization” with the ability and freedom to create spaces, characters and items.
For millennials, the metaverse is about enhancing and upgrading experiences. Spaces to innovate, create lively interactions and experiences, and diversify and enrich human connections.
Clues for Marketers — what is important Millennials:
1: They want immersive experiences, they want lively interactions for entertainment.
2: Digital avatars are a way to facilitate these interactive experiences.
3: Millennials are open to trading and economic activity in the virtual world.
#2: A Different Reality for Digital Avatars
Gen Z and millennials think differently about digital avatars. Gen Z expresses their uniqueness by styling their hair, makeup, apparel and accessories to create digital avatars that are “true to themselves.” Millennials, however, prefer avatars that are “not quite what they look like today,” preferring massive embellishments and enhancements.
Tips for marketers:
For Generation Z, creative freedom is important. The survey shows that over 90% of her Gen Z say “customization” is the most important factor when creating an avatar. Millennial avatars wear and use apparel and accessories from real-world brands, and are enhanced with skills they lack in real life.
#3: The Attraction of Digital Assets
The report shows that one-third of millennials and Gen Z in Asia Pacific are embracing virtual collections. 31% of the Asia-Pacific Metaverse generation are already researching NFTs, and 9% have purchased NFTs.
Clues for Marketers
Artwork, profile pictures, game goods, limited cards, videos, songs, etc. are types of NFTs that the Metaverse generation is paying attention to. Owning an NFT is more than just an investment. You can allow people to be members of groups or grant access to specific communities.
#4: The Metaverse Brand
According to our report, Asia-Pacific consumers are highly receptive to brands that apply the metaverse to their marketing and advertising campaigns. Nearly 60% of him in the Metaverse generation want to know more about brands moving into the Metaverse and want to pay more attention to their events and products.
Clues for Marketers
According to Yahoo research, the sooner a brand can reach consumers in the metaverse, the easier it is to seize opportunities and become attractive.
#5 Need: A Safer, More Accessible Metaverse
Just like in the real world, safety and data security remain top concerns for Metaverse consumers. He said 62% of Asia-Pacific consumers worry about “fraud” and “the inability to distinguish between truth and falsehood.”
Findings show that Generation X and Baby Boomers in Singapore are 59% and 53% more likely to be adopted, respectively, citing their anticipation for the Metaverse, compared to the APAC average of 51% and 41%. indicates high.
Privacy and safety are also top concerns, with 61% saying it will be more difficult to protect privacy and personal information in the metaverse. “Lack of moral and legal norms” was also a concern for him, 57% of respondents.
Accessibility is also important when it comes to adopting the metaverse. An APAC consumer cites ‘too expensive’ and ‘not having the technology’ as his two of the top five barriers deterring him from joining the metaverse.
Clues for Marketers
Given the anonymity, lax regulation, and lack of accountability in the metaverse, ensuring transparency, accessibility, and prioritizing user protection are key to addressing consumer concerns.
Singapore’s Metaverse Generation: Early Adopters, NFTs, Gaming
In many cases, the Metaverse generation (Millennials and Generation Z) in Singapore, a key market for technology adoption, is ahead of other regions in their awareness and interest in the Metaverse, the study found.
The results show that 79% are aware of the Metaverse and 68% are looking forward to it, compared to the APAC average of 73%, higher than the APAC average of 66%.
Notably, the survey results show that Generation X and Baby Boomers in Singapore are 59% and 53% respectively citing their anticipation for the Metaverse as being more likely to be adopted, compared to the APAC average of 51% and 41%. indicates that it is of high quality. %.
The Metaverse generation in Singapore has the highest interest and adoption of NFTs, second only to Hong Kong. More than a third (37%) have experience with his NFT and 12% have purchased an NFT, which is above the APAC average of 31% and 9% respectively.
According to the report:
“They are enthusiastic about NFT products, with artistic paintings being the most viewed or purchased category, followed by in-game items, limited edition cards and virtual profile pictures/avatars. You may be interested in buying popular NFTs, displaying or showing off your status, granting exclusivity or memberships, acquiring well-known intellectual property (IP), and collaborating with well-known brands.
Gaming is an important aspect for the Metaverse generation in Singapore. As a prelude to the Metaverse, 54% of Millennials and 53% of Gen Z in Singapore have already experienced virtual gaming, playing immersive open-world video games such as Minecraft, Roblox, Sandbox and Fortnite. increase. These open-world video games allow them to explore, create personal spaces, interact with others, and want more, giving them a “more immersive gaming experience.” It’s one of the top three aspects of the metaverse I’m looking forward to. ”
Featured Image of Minh Pham