Metaverse eCommerce - Italy | Statista Market Forecast

The projected value of the Metaverse eCommerce market in 2024 is estimated to reach US$417.9m in Italy.
It is expected to demonstrate an annual growth rate (CAGR 2024-2030) of 43.27%, resulting in a projected market volume of US$3.6bn by 2030.
With a projected market volume of US$10.2bn in 2024, the majority of the value is generated in Italy.
In the Metaverse eCommerce market, the number of users is expected to reach 13.2m users by 2030 in Italy.
User penetration is projected to be 7.0% in 2024 and is anticipated to increase to 23.0% by 2030.
The average value per user (ARPU) is expected to be US$102.3 in Italy.
Italy's Metaverse eCommerce market is experiencing a surge in luxury fashion brands establishing virtual stores to reach tech-savvy consumers.

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 Italy has been experiencing significant growth and development in recent years.

Customer preferences: Italian consumers have shown a growing interest in Metaverse eCommerce, embracing the convenience and unique experiences it offers. They are drawn to the immersive nature of the Metaverse, where they can explore virtual worlds, interact with other users, and purchase products and services without leaving their homes. This appeals to the tech-savvy younger generation as well as older consumers who are looking for new and exciting ways to shop and engage with brands.

Trends in the market: One of the key trends in the Metaverse eCommerce market in Italy is the rise of virtual shopping experiences. Retailers are creating virtual storefronts and virtual showrooms where customers can browse and purchase products in a 3D environment. This allows them to get a better sense of the product before making a purchase and enhances the overall shopping experience. Additionally, virtual events and experiences, such as fashion shows and concerts, are becoming increasingly popular, providing opportunities for brands to engage with their customers in new and innovative ways. Another trend in the market is the integration of social media and Metaverse eCommerce. Italian consumers are highly active on social media platforms, and brands are leveraging this by creating virtual experiences that can be shared and enjoyed with friends. This not only increases brand awareness but also encourages social interaction and word-of-mouth marketing within the Metaverse.

Local special circumstances: Italy has a rich cultural heritage and a strong fashion and design industry. This has translated into the Metaverse eCommerce market, with Italian brands and designers embracing the virtual world to showcase their products and creativity. The Metaverse provides a platform for Italian fashion and design brands to reach a global audience and showcase their unique style and craftsmanship.

Underlying macroeconomic factors: Italy has a high internet penetration rate and a tech-savvy population, which has laid the foundation for the growth of the Metaverse eCommerce market. Additionally, the COVID-19 pandemic has accelerated the adoption of online shopping and virtual experiences, as people turned to digital platforms for their shopping and entertainment needs. The Italian government has also recognized the potential of the Metaverse eCommerce market and has taken steps to support its growth through initiatives and policies that promote digital innovation and entrepreneurship. In conclusion, the Metaverse eCommerce market in Italy is experiencing significant growth and development, driven by customer preferences for immersive and convenient shopping experiences. The rise of virtual shopping experiences and the integration of social media are key trends in the market. Italy's rich cultural heritage and strong fashion and design industry further contribute to the growth of the Metaverse eCommerce market. The underlying macroeconomic factors, including high internet penetration and government support, have also played a role in shaping the market's development.

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.