Metaverse eCommerce - Bangladesh | Statista Market Forecast

The Metaverse eCommerce market in Bangladesh is projected to reach a value of US$69.8m by 2024.
This market segment is expected to display an annual growth rate (CAGR 2024-2030) of 45.78%, resulting in a projected market volume of US$669.5m by 2030.
China generates the most value in this market, with a projected market volume of US$10.2bn in 2024.
In terms of users, the Metaverse eCommerce market in Bangladesh is expected to have approximately 4.8m users users by 2030.
The user penetration rate is projected to be 0.8% in 2024 and is expected to increase to 2.6% by 2030.
The average value per user (ARPU) in the Metaverse eCommerce market in Bangladesh is expected to be US$49.8.
In Bangladesh, the Metaverse eCommerce market is witnessing a surge in virtual shopping experiences and immersive digital storefronts.

Definition:

The eCommerce market refers to the buying and selling of goods and services within virtual reality environments, such as virtual worlds, social VR platforms, and other immersive digital spaces. These can include virtual storefronts, digital marketplaces, and other online shopping experiences that allow users to purchase real-world products or virtual items using virtual currencies and/or real-world money. Metaverse eCommerce can also include virtual shopping experiences, where users can explore and interact with virtual stores, try on virtual clothing and accessories, and make purchases through virtual cash or real-world money.

Structure:

The eCommerce market also covers the markets Beauty, Health, Personal & Household Care, Toys, Hobbys, DIY & Media, Furniture, Electronics, Fashion, and Food & Beverages. All of them refer to the specific goods that can be bought in the metaverse.

Additional Notes:

The market comprises market sizes, users, average revenue per user, and penetration rates. Market sizes are generated through in-app purchases and consumer spending on items, products, and hardware such as headsets and glasses. Market numbers for eCommerce are also featured in the Digital Market Insights. Key players in the market include companies, such as IKEA, Virtual Realms, and Holition. For more information on the data displayed, use the info button right next to the boxes.

Marketplaces in the metaverse, such as Decentraland's Marketplace
Items bought for avatars used in the metaverse, such as Costumes or Skins
Fashion for avatars, such as Gucci stores
Electronics, such as AR and VR hardware

Physical items used for the metaverse, such as Oculus Quest
Purchase of games that are considered metaverse, such as Roblox or Sandbox

The Metaverse eCommerce market in Bangladesh is experiencing significant growth and development. Customer preferences in the Metaverse eCommerce market in Bangladesh are driven by the increasing demand for online shopping and virtual experiences.

Consumers are looking for convenience and personalized experiences, which the Metaverse eCommerce platforms can provide. The ability to shop from the comfort of their own homes and explore virtual stores and products is appealing to many customers. Additionally, the Metaverse offers a unique opportunity for consumers to engage with brands and products in immersive and interactive ways, enhancing their overall shopping experience.

Trends in the market indicate that more businesses in Bangladesh are embracing the Metaverse eCommerce model. Companies are recognizing the potential of virtual platforms to reach a wider audience and expand their customer base. They are investing in creating virtual stores and experiences to showcase their products and services.

This trend is fueled by the increasing availability and affordability of virtual reality (VR) and augmented reality (AR) technologies, which enable businesses to create realistic and engaging virtual environments. Local special circumstances in Bangladesh, such as a large and growing population with access to the internet, contribute to the development of the Metaverse eCommerce market. The country has a high mobile penetration rate, and many consumers are comfortable with online shopping.

Additionally, the government of Bangladesh has been supportive of digital initiatives and has implemented policies to encourage the growth of the digital economy. These factors create a favorable environment for the adoption and expansion of Metaverse eCommerce platforms. Underlying macroeconomic factors, such as the increasing GDP per capita and rising disposable income, also play a role in the development of the Metaverse eCommerce market in Bangladesh.

As consumers have more purchasing power, they are more likely to explore new shopping experiences and spend on virtual products and services. Furthermore, the COVID-19 pandemic has accelerated the shift towards online shopping and virtual experiences, as people have turned to digital platforms for their shopping needs. This has further fueled the growth of the Metaverse eCommerce market in Bangladesh.

In conclusion, the Metaverse eCommerce market in Bangladesh is experiencing significant growth and development. Customer preferences for convenience and personalized experiences, along with the increasing availability of VR and AR technologies, are driving the adoption of Metaverse eCommerce platforms. Local special circumstances, such as a large and tech-savvy population, and supportive government policies, contribute to the market's growth.

Underlying macroeconomic factors, including increasing GDP per capita and the impact of the COVID-19 pandemic, further fuel the development of the Metaverse eCommerce market in Bangladesh.

Data coverage:

Figures are based on in-app spending, consumer spending, in-game spending, app downloads, and investment and funding data.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use reports, third-party studies, and research companies. Next we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, and internet penetration rates. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are consumer spending per capita, level of digitalization, and cloud revenues.

Additional Notes:

The market is updated twice per year in case market dynamics change. Consumer Insights data is unbiased for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Before Mark Zuckerberg announced Facebook’s name change to Meta to the surprise and sniggers of social media users, the metaverse was a niche and futuristic concept familiar to the tech and science-fiction aficionados. Yet now, it has become the catchphrase that sets the scene for the next stage of the internet. Facebook’s rebranding of Meta as one of the building blocks of the metaverse was powerful enough to trigger immediate response from the world’s biggest retail and consumer brands. In the week following Zuckerberg’s Meta presentation, Nike made patent applications for a number of its logos and slogans, and in December 2021 acquired the virtual sneakers company RTFKT. Nike is one of the growing number of retail brands that are silently preparing their launch into the metaverse where fashion is flaunted not as physical goods but as virtual assets. According to a study, Nike applied for 12 IoT patents in the three months running up to May 2022.