Metaverse eCommerce - Spain | Statista Market Forecast

In 2024, the projected value of the Metaverse eCommerce market is set to reach US$288.1m in Spain.
This is expected to show an annual growth rate (CAGR 2024-2030) of 41.71%, resulting in a projected market volume of US$2.3bn by 2030.
China is the leading country in terms of market volume, with a projected market volume of US$10.2bn in 2024.
By 2030, the number of users in the Metaverse eCommerce market in Spain is expected to amount to 11.0m users.
The user penetration rate is projected to be 7.4% in 2024 and is expected to reach 23.3% by 2030.
The average value per user (ARPU) is expected to be US$81.5 in Spain.
Spain's Metaverse eCommerce market is experiencing a surge in virtual fashion sales, as consumers embrace the opportunity to dress up their avatars.

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 Spain is experiencing significant growth and development, driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Metaverse eCommerce market in Spain are shifting towards more immersive and interactive online shopping experiences.

Consumers are increasingly seeking out virtual reality (VR) and augmented reality (AR) technologies to enhance their shopping experiences, allowing them to virtually try on clothing, test out products, and explore virtual stores. This trend is driven by the desire for convenience, personalization, and a more engaging shopping experience. Trends in the market include the growing popularity of virtual marketplaces and social shopping platforms.

These platforms allow users to buy and sell virtual goods, interact with other users, and participate in virtual events and experiences. The rise of these platforms is fueled by the increasing adoption of Metaverse technologies and the desire for social interactions in online shopping. Local special circumstances in Spain, such as a tech-savvy population and a strong gaming culture, contribute to the development of the Metaverse eCommerce market.

Spain has a high smartphone penetration rate and a large number of gamers, making it a fertile ground for the adoption of Metaverse technologies. Additionally, Spain has a vibrant creative industry, with many artists and designers exploring the possibilities of the Metaverse for showcasing and selling their work. Underlying macroeconomic factors also play a role in the development of the Metaverse eCommerce market in Spain.

The COVID-19 pandemic has accelerated the shift towards online shopping and digital experiences, as consumers seek alternatives to in-person shopping. This has created a favorable environment for the growth of the Metaverse eCommerce market. Additionally, Spain has a strong digital infrastructure and a supportive regulatory environment for technology and innovation, further facilitating the growth of the market.

In conclusion, the Metaverse eCommerce market in Spain is experiencing growth and development due to customer preferences for immersive and interactive online shopping experiences, trends such as virtual marketplaces and social shopping platforms, local special circumstances including a tech-savvy population and a strong gaming culture, and underlying macroeconomic factors such as the COVID-19 pandemic and a supportive regulatory environment. This market presents opportunities for businesses to tap into the growing demand for Metaverse technologies and create innovative and engaging online shopping experiences for consumers in Spain.

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.