Can the metaverse save malls?

News
 |  
Apr 2022
 |  
WWD
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What: A new study suggests virtual malls may bring good news for real ones.

Why is it important: Among those who do spend time in virtual worlds, there’s a healthy appetite for shopping the metaverse for physical products, with virtual malls being of particular interest.


The metaverse survey polled 557 online shoppers of different age groups and, nearly half of the respondents said they hadn’t heard of the term. Less than one-fifth said they were familiar with virtual worlds or participated in them. The researchers drilled down into this group to glean insights into their interests. That’s when they saw that a significant portion want their avatars to hit the mall, particularly older consumers.

The interest breaks down to 29% of 18- to 29-year-olds, 35% of 30- to 39-year-olds, 35% of 40- to 49-year-olds, and 37% of 50- to 59-year-olds. The generational difference could come down to who even remembers the time when the mall was the social and cultural touchstone for communities.

The shopping orientation could be influenced by the nature of this sample as well, as more than half, at 5%, happened to be women. The study also looked at other contexts, inside and outside the metaverse, including virtual events, social commerce, and livestream shopping, the latter of which hasn’t latched onto the mainstream consciousness either.


Can the metaverse save malls?