4 / 14 / 23 , 9:45 AM What Retailers Need to Know About the Metaverse – WWD
Fifty-eight percent of 55- to 65-year-olds and 77 percent of those 65 and older have never used XR , and 30 percent of women aged 45 to 55 have never used XR . Headsets and monitors were the most popular and frequently used to access XR . Almost seven in 10 respondents made purchases within an XR environment in the past , mostly related to gaming . Black and African American respondents were 1.8 times more likely to have made XR purchases .
For those that never made a purchase in XR , the key deterrents were security concerns , lack of access to appropriate technology and the right kind of products being unavailable .
More than half of the respondents reported previous experiences using extended reality experiences in a physical retail environment ; 95 percent reported having positive experiences using in-store extended reality , largely due to suf cient support and guidance and the ability to use cutting-edge technology .
“ One of the biggest takeaways for retailers , IA initially found , was that there was not a detailed understanding within the marketplace that was supported by research — one that took stock of who , when , where , and how consumers were engaging with extended reality technology that could impact both a retailer ’ s and consumer ’ s instore experience . These initiatives require substantial nancial backing , and retailers could stand to use this ‘ pause ’ in the metaverse frenzy to become more strategic in positioning themselves for the highest , greatest XR impact ,” said Riggs , in an email exchange with WWD .
“ Rather than the tech-savvy teen male — typically the main consumer of these technologies — according to our survey , female consumers 55 years and older appear to be a key driver of future adoption in XR . Retailers should be aware that this segment is eager to learn and willing to spend since they are a part of the highest income group . Brands that develop XR strategies to enhance this segment ’ s education and improve their accessibility to products and services that can improve their health and wellness , will create a future competitive advantage .”
To encourage consumers to use extended reality devices in a retail environment or purchase them , Riggs advises retailers to :
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