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March 1, 2022

The Metaverse could be the distant future of tourism marketing

The Metaverse can have a lot of potential for the future of tourism for the likes of Gen Z by displaying how enjoyable a service can be.

By Globaldata Travel and Tourism

The Metaverse holds the potential to create the most immersive marketing experiences ever seen in the tourism industry, with this virtual world taking the ‘try before you buy’ concept to a whole new level.

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The Metaverse is becoming a reality – adapt to meet it

Although the term resists single definition, the metaverse can broadly be described as a virtual world where users can meet, work, play, shop and socialize in real-time within simulated scenarios. The theme has gained traction following Facebook's rebranding to Meta, prompting enterprises to consider how they can seemingly develop economies, trade with other companies, and form alliances in new and imaginative ways as the metaverse use cases and applications grow broader. This is subsequently encouraging businesses across sectors to begin developing capacities related to the metaverse experience, foundation, tools, and user interfaces. Simultaneously, the impact of the COVID-19 pandemic has accelerated the technology adoption rate, thereby increasing the expectations of stakeholders. Amid all such developments, the metaverse is projected to influence multiple sectors with user engagement, collaboration, training, and learning being touted as some of its early use cases. GlobalData examines how the innovative adoption of emerging technologies can accelerate the advent of the metaverse ecosystem. This report explores our in-house data to provide our clients with insights into how various companies are driving the immersive ecosystem’s growth with their innovative solutions.
by GlobalData
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Mainstream use of the Metaverse in travel and tourism is still some time away. There is a distinct possibility that it may never get to that point, with this digital environment potentially being confined to the gaming landscape if consumers fail to adapt to this new way of living.

However, we can look at the possibilities the Metaverse could provide for tourism marketing if it was to take off.

The ultimate ‘try before you buy’ experience

Many prospective travellers would love to see a destination or hotel room for real before they travel there and this is what the Metaverse could provide. The vivid recreation of a real-world environment through the Metaverse could allow tourism companies to build trust with potential customers, which in turn will sway purchasing decisions. 57%* of global consumers stated that they are ‘always’ or ‘often’ influenced by how trustworthy/risk-free a product or service feels. The Metaverse allows risk to be reduced for travellers as they would get to experience the product or service in potentially the most vivid way possible before physically travelling there.

Additionally, using the Metaverse to select aspects of a holiday could be much more enjoyable and informational. Travellers would be transported to a virtual and interactive world that could increase the chance of triggering an emotional response that leads to a booking. 53%* of global respondents stated that they are ‘often’ or ‘always’ influenced by how enjoyable and unique a product or service is, with the Metaverse certainly holding the potential to create highly unique ‘pre-trip’ experiences.

Gen Z may be receptive to this form of marketing

43%* of global Gen Z respondents stated that they are either ‘somewhat’ or ‘always’ influenced by how smart/digitally advanced a service or product is, which means they are most likely to react positively to the Metaverse and marketing strategies in this digital world. This comes as little surprise as this generation compromises digital natives who tend to have no memory of a time before smartphones. The mainstream adoption of the Metaverse rests with this cohort and thus the adoption of the Metaverse for marketing purposes by tourism companies.

By potentially offering the ultimate ‘try before you buy’ experience to the likes of Gen Z, the Metaverse could be the future of tourism marketing. However, this use case will not be put in place for some time yet, or maybe not at all if this digital world fails to reach the mainstream.

* GlobalData’s Q1 2021 consumer survey

Related Companies

Free Report
img

The Metaverse is becoming a reality – adapt to meet it

Although the term resists single definition, the metaverse can broadly be described as a virtual world where users can meet, work, play, shop and socialize in real-time within simulated scenarios. The theme has gained traction following Facebook's rebranding to Meta, prompting enterprises to consider how they can seemingly develop economies, trade with other companies, and form alliances in new and imaginative ways as the metaverse use cases and applications grow broader. This is subsequently encouraging businesses across sectors to begin developing capacities related to the metaverse experience, foundation, tools, and user interfaces. Simultaneously, the impact of the COVID-19 pandemic has accelerated the technology adoption rate, thereby increasing the expectations of stakeholders. Amid all such developments, the metaverse is projected to influence multiple sectors with user engagement, collaboration, training, and learning being touted as some of its early use cases. GlobalData examines how the innovative adoption of emerging technologies can accelerate the advent of the metaverse ecosystem. This report explores our in-house data to provide our clients with insights into how various companies are driving the immersive ecosystem’s growth with their innovative solutions.
by GlobalData
Enter your details here to receive your free Report.

Related Report
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