33% of UK consumers plan to use virtual spaces to shop online

The metaverse is a virtual space that integrates reality and virtual reality, and is becoming a highly influential platform for social interaction, cultural attributes, and economic exchange.

Liang Youmei, President of Meta Greater China, once said that the Metaverse will bring huge and exciting business opportunities to enterprises.

According to Vista's study of 2,000 UK adults, one-third of UK consumers plan to use virtual spaces for online shopping and want to see brands in the "real world" in the virtual space.

Research data shows that 59% of Brits are familiar with the metaverse and expect it to take about 15 years to become mainstream.

73% of respondents predicted that the Metaverse will be most popular among Generation Z and Millennials.

While the Metaverse still seems a long way off, this data shows that UK shopping habits are already shifting and that SMEs need to stay ahead of emerging technologies.

Nearly two-thirds of Britons said the pandemic had increased the frequency of their online shopping, and 65% said it was important for small and medium-sized enterprises to conduct online business.

Of course, more than three-quarters of Brits still prefer shopping on the high street, so the Metaverse could combine virtual content with the real-world experiences that shoppers crave.

According to British media reports, of all the things available in the virtual world, Britons are most likely to use it for online shopping, followed closely by social media, concerts /live entertainment events and online streaming services.

It can be seen that consumers want virtual high streets to be as diverse as real high streets in the UK.

The survey predicts that the most popular small and medium-sized enterprises in the Metaverse are expected to be fashion stores, electronics stores, daily grocery stores, bookstores, auto shows, etc., and virtual real estate agents are also one of the popular professions.

Virtual try-before-you-buy technology is already being used by brands to allow customers to try on makeup, glasses or place furniture in their homes, and is available to a range of small and medium-sized businesses including retailers, barber shops and salons, interior design and real estate.

Emily Shirley, Vista’s managing director for the UK and Ireland, commented: “The Metaverse will bring a host of commercial opportunities to many small and medium-sized businesses. It has the opportunity to revolutionise the way everyone buys goods and experiences services in the UK and beyond. While the Metaverse will not replace the physical high street, it will likely become a hybrid of virtual and in-person experiences.

Cross-border e-commerce market

U.K.