Metaverse fashion is taking shape

News
 |  
Mar 2022
 |  
Vogue Business
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What: It’s not only gamers buying digital fashion, as technology and knowledge improve, so does the data-backed understanding of what people want to buy and wear virtually.

Why is it important: People who buy digital fashion aren’t all gamers or young male crypto enthusiasts, many are women, and many are interested in shopping virtual stores. With the broader fashion industry looking for opportunities in the metaverse, new data shows not only what people want to wear in other worlds, but also how much they are willing to pay.

Digital fashion is a key component to how people shape virtual identities, and while moving from niche to passionately hyped, experts say real uptake by brands depends on separating fact from fantasy, especially as brands evaluate if digital apparel can manifest into a potential revenue stream.

A survey conducted by The Dematerialised fashion marketplace included 3,000 people across eight global markets (US, UK, Germany, Mexico, Korea, Saudi Arabia, Egypt and UAE) and reached a mix of people who didn’t all identify as tech enthusiasts. Half are millennials and the others are Gen Z or Gen X, evenly split between men and women. Survey indicates that 82% have already purchased a virtual item and one-third had purchased digital fashion. 47% interested in digital fashion are not crypto users.

CEO of Geeiq, which analyses metaverse platforms based on social media followers, saw that Zepeto’s social media audience is two-thirds female and 70% are younger than 24. Most are interested in luxury fashion brands. Followers are 13 times more likely to follow brands like Prada, Gucci, Fendi and Balenciaga. Within Roblox’s various spaces, 70% of users are 24 or younger, and the majority are male. Aeropostale, Gap and Forever21 are among the brands with the most affinity.

Virtue found that one in five active Roblox users updated their avatars on any given day, including the body, face and accessories. People who are established in the metaverse, with cryptocurrency and have an avatar, are three times more likely to have purchased more than 30 virtual goods.

Digital fashion will become mainstream within five years, according to two-thirds of those Virtue studied. Respondents expect nearly half of their overall wardrobe to be digital in five years.


Metaverse fashion is taking shape