The metaverse. From accessories and future tech to business strategies and even how it will integrate in our day to day. That and more on today’s episode.
Want to know what’s next? Listen to the show where our experts from around the globe unpack your biggest challenges. This week, WGSN’s President and CEO Carla Buzasi takes us to Singapore, Denver, London, San Francisco and Los Angeles for a special episode on all things metaverse. Hear from the friendly faces of our Consumer Tech and Insight teams.
Watch the full episode below or read on for highlights of this episode:
Q: Can you discuss some of the accessories consumers will want to use in the metaverse?
“Instead of wondering about what metaverse accessories consumers want to use in the future, think about this in terms of consumer mindsets. The metaverse will gain traction if accessories become simple and easy to use. And the average person will not want to deal with complicated body tracking set-ups or heavy virtual reality headsets, but rather more accessible products such as augmented reality glasses designed to be taken on and off in an instant.”
– Neo Ping, Analyst, WGSN Consumer Tech
Q: Why is no one talking about better aesthetics in the metaverse? The aesthetics are pretty poor right now. What can be done about that?
“There are a couple of forces in play regarding the current aesthetics of the metaverse. One is that creating more photorealistic effects takes some hefty processing power and skilled digital 3D designers that are in high demand. Product designers are already producing photorealistic renderings of tech products and I'm seeing loads of creativity as various colours, materials and finishes are explored and refined.”
– Reiko Morrison, Head of CMF, WGSN Consumer Tech
Q: What are some of the potential downsides or detrimental results of the growing metaverse?
“There’s a lot to think about broadly within the ethics of the metaverse. First of all, it’s whether people even want to spend more time using screens or roaming around within virtual worlds. This is something that we as an industry and as a society need to think about as the metaverse is growing and evolving. There are lots of implications within important areas such as inclusion, accessibility and diversity, and there are major challenges to address within sustainability as well.”
– Sarah Housley, Head of Consumer Tech, WGSN
Q: How can brands start integrating a metaverse strategy into a business model? What’s the first step?
“Start by evaluating your business goals and knowing your customers’ needs. Check out our metaverse reports to help you make informed decisions that identify the opportunity gap for innovation. Build the world by collaborating with industry players and infrastructure companies, or hire the right expertise and skill sets to form your own team.”
– Lisa Yong, Director of Consumer Tech, WGSN
Q: How do you see metaverse as a future lifestyle? Would it really be occupying people’s lives in the future?
“The metaverse is already here and you can see it with different consumer groups. Gen Zers and Alphas are spending a lot more time gaming – they’re playing on platforms such as Fortnite and Roblox, they’re spending time there socialising with friends after school. They’re spending their money on in-game clothing, in-game skins, in-game goods, and this is beginning to expand to other sectors as well.”
– Joe McDonnell, Head of Insight, WGSN