Metaverse eCommerce - China | Statista Market Forecast

The projected value of the Metaverse eCommerce market in 2024 is expected to reach US$10.2bn .
This market is projected to continue growing at an annual growth rate of 31.04% between 2024 and 2030, resulting in a market volume of US$51.5bn by 2030.
It is worth noting that China is the primary contributor to this market, with a projected market volume of US$10.2bn in 2024.
In terms of user base, the number of users in the Metaverse eCommerce market is expected to reach 529.8m users by 2030.
The user penetration rate, which represents the percentage of the population using Metaverse eCommerce market, is projected to be 15.7% in 2024 and is expected to increase to 37.2% by 2030.
Furthermore, the average value per user, also known as the Average Revenue Per User (ARPU), is expected to be US$45.3 .
These figures highlight the significant potential and growth opportunities in the Metaverse eCommerce market, particularly China.
China's Metaverse eCommerce market is booming with an increasing number of virtual shopping platforms and virtual goods transactions.

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 China is experiencing significant growth and development driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in China are playing a crucial role in the development of the Metaverse eCommerce market.

Chinese consumers are increasingly seeking immersive and interactive online shopping experiences. The Metaverse offers a unique opportunity for consumers to explore virtual stores, interact with products, and make purchases in a more engaging and personalized way. This aligns with the growing demand for experiential shopping and the desire for convenience and efficiency in the digital age.

Trends in the market indicate a strong momentum for the Metaverse eCommerce sector in China. The integration of virtual reality (VR) and augmented reality (AR) technologies is revolutionizing the way consumers shop online. Virtual showrooms, virtual try-on experiences, and virtual social shopping platforms are becoming increasingly popular among Chinese consumers.

These trends are driving the adoption of Metaverse eCommerce platforms by both retailers and consumers, creating new opportunities for growth and innovation in the market. Local special circumstances in China, such as the rapid urbanization and the increasing penetration of internet and smartphone usage, are contributing to the development of the Metaverse eCommerce market. The country's large population and rising middle class provide a vast consumer base for Metaverse eCommerce platforms to target.

Additionally, the high internet penetration rate and widespread smartphone usage enable easy access to Metaverse experiences, making it more accessible and appealing to a wide range of consumers. Underlying macroeconomic factors also play a significant role in the growth of the Metaverse eCommerce market in China. The country's strong economic growth, coupled with rising disposable incomes, has led to increased consumer spending on both physical and virtual goods.

This creates a favorable environment for the Metaverse eCommerce market to thrive, as consumers have the financial means to explore and engage with virtual shopping experiences. In conclusion, the Metaverse eCommerce market in China is experiencing rapid growth and development driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As Chinese consumers increasingly seek immersive and interactive online shopping experiences, the Metaverse offers a unique opportunity for retailers to engage with their target audience in a more personalized and engaging way.

With the integration of VR and AR technologies, the Metaverse eCommerce market is poised for further expansion and innovation, creating new opportunities for both retailers and consumers in China.

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.