Many people have no idea what the metaverse is -- especially younger shoppers, according to a study by email and SMS platform Klaviyo.
Of those polled, 49% don’t know what the metaverse is. That includes 41% of those ages 18-24, 34% of those in the 25-34 cohort and 61% of consumers age 55+.
In addition, 17% believe the metaverse is just Facebook.
And what may be worse, 78% of those who are aware of the metaverse feel it is simply marketing hype -- with 30% saying it is definitely hype and 48% saying it probably is.
Moreover, 81% of the 18-24 group believe it is hype -- exceeding the average -- versus 62% of people in the 65+ age category and 71% of 25- to-34-year-old shoppers.
In addition, 40% of 18- to-24 year-olds don’t understand the concept of non-fungible tokens (NFTs), and 32% say they would never consider investing in them.
Only 18% of the respondents overall invest in crypto, while 39% feel it’s not worth investing in. Another 43% say it might be worth putting money in, but are not doing that now.
Klaviyo surveyed 1,000 U.S. consumers.