Metaverse eCommerce - Peru | Statista Market Forecast

The projected value in the Metaverse eCommerce market for Peru is expected to reach US$75.9m in 2024.
This value is anticipated to show an annual growth rate (CAGR 2024-2030) of 41.48%, resulting in a projected market volume of US$609.0m by 2030.
With a projected market volume of US$10.2bn in 2024, the majority of value is generated China.
In terms of user statistics, the number of users in the Metaverse eCommerce market for Peru is expected to amount to 5.6m users by 2030.
User penetration is projected to be 5.2% in 2024 and is expected to reach 15.2% by 2030.
The average value per user (ARPU) is anticipated to amount to US$42.1.
Peruvian Metaverse eCommerce is flourishing, driven by the country's rich cultural heritage and the growing demand for virtual experiences.

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

Peru is experiencing a significant growth in the Metaverse eCommerce market. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to the development of this sector.

Customer preferences in Peru are shifting towards online shopping and digital experiences. With the increasing penetration of smartphones and internet access, Peruvian consumers are becoming more comfortable with online transactions. This has led to a growing demand for virtual goods and services, as well as immersive experiences in the Metaverse.

Customers are drawn to the convenience and accessibility of shopping in the Metaverse, where they can explore virtual stores and interact with products in a virtual environment. Trends in the market indicate that Peruvian businesses are embracing the Metaverse as a new frontier for eCommerce. Companies are creating virtual storefronts and virtual events to engage with customers in a more interactive and immersive way.

This trend is driven by the desire to differentiate themselves in a competitive market and to tap into the growing consumer demand for digital experiences. Additionally, the COVID-19 pandemic has accelerated the adoption of virtual platforms, as businesses seek alternative ways to reach customers and maintain sales during lockdowns and social distancing measures. Local special circumstances in Peru also contribute to the development of the Metaverse eCommerce market.

The country has a young and tech-savvy population, which is quick to adopt new technologies and trends. Furthermore, Peru has a vibrant gaming and entertainment industry, which provides a solid foundation for the growth of the Metaverse. The country's rich cultural heritage and diverse natural landscapes also offer unique opportunities for virtual tourism and virtual experiences.

Underlying macroeconomic factors further support the growth of the Metaverse eCommerce market in Peru. The country has experienced steady economic growth in recent years, which has led to an expansion of the middle class and increased purchasing power. This, coupled with the rising penetration of smartphones and internet access, creates a favorable environment for the development of digital commerce.

Additionally, the government has been supportive of the digital economy, implementing policies and incentives to promote innovation and entrepreneurship. In conclusion, the Metaverse eCommerce market in Peru is thriving due to customer preferences for online shopping and digital experiences, trends in the market that emphasize virtual engagement, local special circumstances that support the growth of the Metaverse, and underlying macroeconomic factors that create a favorable environment for digital commerce. As the market continues to evolve, businesses in Peru are well-positioned to capitalize on the opportunities presented by the Metaverse.

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.