Gen Z and millennials: transforming the metaverse

The metaverse is the evolution of today’s internet. It's a shared virtual space where you can shop, work and play. It’s where virtual content augments and embraces reality.² To reach Gen Z and millennials, businesses must adapt to be always-on, and present in these non-traditional e-commerce spaces.

Millennials: 1980 – 1994 | Gen Z: 1997 – 2009

Largely through gaming, young people are already exploring aspects of the metaverse through Augmented Reality (AR) and Virtual Reality (VR). Examples include interacting with TikTok filters or buying digital clothing or accessories to outfit an avatar in the virtual world. 

On average, 32.4% of Gen Z and 39.4% of Millennials have used VR.^* 

AR/VR activities gen Z and millennials are interested in

Across the US, Australia and China, Gen Z and Millennials reported being interested in the following AR/VR activities:

• “Walk” through a virtual aisle to select and purchase products like groceries or clothing
• Buy digital versions of clothing or accessories to outfit an avatar in a virtual world
• Enter a holistic, immersive virtual world and take part in an experience that is not repeatable in real life (e.g., participate in a World Cup simulation or attend a concert on a virtual platform)
• Get technical support or explore product features after purchase using technologies like AR or VR
• Go shopping with a group of friends in a virtual store
• Interact with others in an immersive virtual world, rather than in-person
• Invest in a digital asset with a unique identification code (NFTs) that can be collected, shared or re-sold.³

The metaverse is still unfolding, and Gen Z and Millennials are at the forefront of its evolution.

^* McKinsey (video)

² McKinsey

³ Euromonitor

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