Who constitutes APAC’s Metaverse Generation and what do marketers need to know about them?
A new study by Yahoo reveals key insights into what consumers in Asia Pacific want from the metaverse. The survey is the largest consumer survey on the metaverse in APAC and covers her 15,000 respondents in Australia, New Zealand, Japan, Taiwan, Hong Kong and Singapore.
The study found that 73% of APAC consumers were aware of the Metaverse, making it mainstream in the region. APAC’s Digital Native is leading the way, with 66% of APAC’s Millennials and Gen Z of him looking forward to the Metaverse. Together, they make up the “metaverse generation”.
However, as the study’s key findings show, these user groups differed in how they imagined the metaverse and what they expected from it, with virtual social communities, avatars, immersive entertainment, creative There is a surprising difference in how we view liberty.
Zoe Cocker, Director of Innovation and Creative Studios at Yahoo, said:
“This research provides a strong signal to marketers about what users care about—the building blocks for connecting with core audiences/niche consumer groups in the metaverse,” she said. say.
“This report reveals the core of the consumer metaverse by country. It makes them practical for brands that want to create real value for their audience.”
The report’s five key findings provide key insights for APAC marketers.
#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 — what matters to Gen Z:
1: Virtual Communities: They want to build social circles that are different from existing circles in the 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. A space to innovate, create lively interactions and experiences, and diversify and enrich human connections.
Clues for marketers – what’s important for 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.
Metaverse hobbies?Millennials and Gen Z have different approaches
According to the study, millennials take on hobbies they enjoy in real life to enhance their experience in the Metaverse. For example, consider motorcycle racing. A millennial who loves bikes in the real world collects two of his virtual bikes in the Metaverse and invites other biker friends on a virtual road trip. A Gen Z user, on the other hand, may not follow his racing bikes in the real world, but they will go all out in the virtual world. That is, create your “dream character” and build your racer’s identity and reputation, and even your income, entirely in the metaverse.
#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.
Clues 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.
Consumers in Hong Kong and Singapore are most attracted to NFTs compared to other APAC countries. Half of Hong Kong’s metaverse generation has researched NFTs and 14% have purchased his NFTs!
#4: The Metaverse Brand
The report found that 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.” 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 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, Singapore’s Metaverse generation (Millennials and Generation Z), a major market for technology adoption, has been found to be far ahead in their awareness and interest in the Metaverse. 79% are aware of the Metaverse, compared to the APAC average of 73%, and 68% are looking forward to it, higher than the APAC average of 66%. Interestingly, the survey results show that Generation X and Baby Boomers in Singapore are 59% and 53% respectively citing they are looking forward to the Metaverse, compared to the APAC average of 51% and 41%. It indicates that you have a high chance of being hired. .
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. They are enthusiastic about his NFT products, with the most viewed or purchased category being artistic paintings, followed by in-game items, limited edition cards and virtual profile pictures/avatars. In the future, they may be interested in buying social media popular NFTs, displaying or showing off their 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.