Marketers bullish on metaverse, predicting wide-spread adoption

Marketers bullish on metaverse, predicting wide-spread adoption

- 81% believe there will be widespread adoption of the metaverse in next 5 years

- However, 65% feel that consumers don’t fully understand the concept of the metaverse

Dubai, UAE – A new report by Sitecore provides insights into global marketers’ and consumers’ expectations of the metaverse that brands in the Middle East will be watching carefully as they align with the region’s plans to become a major player in this rapidly evolving environment.

According to Sitecore’s 2022 Perceptions of the Metaverse report, global intentions to invest heavily are bullish, but there is clear acknowledgment among those surveyed that consumer education is needed and 78% of marketers plan to work harder to educate consumers on the benefits of the metaverse. The survey asked almost 700 global marketers and 2,001 consumers about their perception of the metaverse and how it will change interactions between brands and consumers.

Many brands are intending to place a large investment into the metaverse, with 50% of marketers planning to allocate more than 10% of their budget to the metaverse throughout 2023. Extraordinarily, almost all marketers (91%) will be investing a portion of their total budget into plans for the metaverse over the next five years. An impressive 81%