What is the metaverse and how will it impact CPG?  


What is the metaverse and how will it impact CPG?  

Odds are you have heard of the metaverse. Facebook changed its company name to “Meta,” morning news shows are full of anchors strapping virtual reality headsets on and swiping at empty air, and it’s just generally spoken of as the next big thing. But what impact will the metaverse really have on people and the retail sector in particular? 

NielsenIQ’s Leading Edge report tackles this question and more by analyzing 18 popular transformative ideas that the CPG industry is investing in right now. Let’s look at how the metaverse will impact CPG and how brands and retailers can prepare.  

What is the metaverse? 

The metaverse is a future vision of the internet that includes virtual, augmented, and mixed reality technologies. The metaverse will bring to life and blend together virtual worlds and communities. For many, it presents a completely new way to interact, socialize, work, play, and shop. For brands and retailers, the metaverse represents the next generation of consumer engagement.  

Many gaming platforms already exist in the virtual reality corner of the metaverse, with Roblox and Fortnite being some of the most well-known. These games are characterized by virtual worlds that continue to exist, even when a player is not playing.   

What industries will be disrupted? 

All industries will be impacted in some form or another by the metaverse. A cross section below includes (but is not limited to):  

  • Marketing  
  • Retail  
  • Gaming  
  • Fashion  
  • Travel  
  • Real-estate and architecture design  
  • Finance  
  • Education  
  • Sporting  

Keep an eye on 

Brands and retailers should be aware that consumers are much more familiar and comfortable in the virtual world as a result of the pandemic. Whether it be Zoom calls or troubleshooting long-distance Jackbox Games sessions, the barriers to adoption have been significantly reduced.  

On a similar note, after long periods of isolation and lockdowns, there is a strong desire for a sense of belonging and community that the metaverse can provide.  

The metaverse is also playing a significant part in the adoption of the latest web3 technologies, like blockchain for safe and decentralized interaction or NFT for true digital ownership. 

Event: The big ideas that may change the game for CPG

Watch experts from NielsenIQ as they discuss the major investments and innovative applications in the metaverse and NFTs.