Virtual reality investments are a long-term play for businesses targeting Gen Z, says South Korea’s Zepeto

Virtual reality investments are a long-term play for businesses targeting Gen Z, says South Korea’s Zepeto [ad_1]

Businesses seeking to seize the subsequent technology of consumers are doing so by way of digital reality headsets, in line with the chief technique officer of South Korean avatar app Zepeto.

Investments within the “metaverse” — a shared digital reality house that enables people to work together with different customers inside a digital surroundings — are taking off in industries spanning meals and beverage, retail and music, Rudy Lee advised CNBC Wednesday.

It comes as corporations search to place themselves for longer-term tech tendencies, he stated.

For its half, Zepeto — which is backed by South Korea’s web service supplier Naver — has seen elevated demand from company companions this yr, stated Lee. There are round 100 corporations at the moment utilizing the platform to advertise their manufacturers to its 200 million-strong person base, he added.

When these folks are investing within the metaverse by way of us … they’re seeking to have their presence right here for the long-term

“When these people are investing in the metaverse via us, they’re doing so not with a six-month or a one year outlook. They’re looking to have their presence here for the long term,” he stated.

In specific, company companions view Zepeto as a technique of targeting Gen Z shoppers. The six to 24-year-old cohort account for greater than 80% of these customers who create customized characters and pay for digital tokens on the platform, stated Lee.

Two medical employees put on masks whereas expertise VR video games in the course of the third World Health Expo held on April 8, 2021 in Wuhan, Hubei Province, China.

Getty Images | Getty Images News

“I think the companies looking towards that demographic as well as the future are definitely looking at this from a very long-term perspective,” he famous.

Virtual reality platforms have lengthy introduced visions for how shoppers might work together sooner or later. But Lee stated the pandemic has additional instilled current tech tendencies, making these ambitions extra reasonable.

“I think it (the pandemic) had a long-lasting impact on the way we look at virtual things,” Lee stated.

“The general consensus is that this time it is different,” he continued. “Certainly because of Covid and how it has impacted the way we interact with each other. Also the general rise of mobile, 5G, gaming. I think all of these factors make for a very robust environment for us.”

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