Market Insights Advertising & Media Metaverse

Metaverse eCommerce - Chile

Chile

The projected value of the Metaverse eCommerce market in 2024 is estimated to reach US$72.5m.
It is anticipated to experience an annual growth rate of 42.16% from 2024 to 2030, resulting in a projected market volume of US$598.0m by 2030.
It is worth noting that in China contributes the most to the market, with a projected market volume of US$10.2bn in 2024.
In terms of user base, the number of users in the Metaverse eCommerce market is projected to reach 3.8m users by 2030.
The user penetration rate is expected to be 6.2% in 2024 and is projected to increase to 19.1% by 2030.
Furthermore, the average value per user (ARPU) is expected to be US$59.9.
It is important to mention that these projections are specific to the Metaverse eCommerce market and do not encompass the entire e-commerce industry.
In relation to the country in focus, in Chile, it would be interesting to examine its role and potential in the Metaverse eCommerce market.
Chile's Metaverse eCommerce market is witnessing a surge in virtual fashion and lifestyle brands, attracting a growing number of digitally savvy consumers.

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Analyst Opinion

The Metaverse eCommerce market in Chile is experiencing significant growth and development, driven by changing customer preferences and the convergence of technology and commerce. Customer preferences in Chile are shifting towards online shopping and digital experiences, with consumers increasingly seeking convenience, variety, and personalized experiences.

This has led to a rise in the demand for virtual shopping experiences and the integration of eCommerce platforms with virtual reality and augmented reality technologies. Customers are now able to explore virtual stores, try on virtual clothing, and interact with products in a more immersive and engaging way. Trends in the market show a growing adoption of Metaverse eCommerce platforms by retailers in Chile.

Companies are recognizing the potential of these platforms to reach a wider audience, enhance customer engagement, and drive sales. Retailers are investing in creating virtual storefronts and launching virtual shopping events to attract and retain customers. Additionally, the integration of social media and gaming elements into Metaverse eCommerce platforms is gaining popularity, allowing customers to interact with friends, share their shopping experiences, and earn rewards.

Local special circumstances in Chile contribute to the development of the Metaverse eCommerce market. The country has a high internet penetration rate and a tech-savvy population, which creates a favorable environment for the adoption of virtual shopping experiences. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping, as consumers seek safer alternatives to traditional brick-and-mortar stores.

This has further fueled the demand for Metaverse eCommerce platforms in Chile. Underlying macroeconomic factors also play a role in the growth of the Metaverse eCommerce market in Chile. The country has a stable economy and a growing middle class, which has led to an increase in disposable income and consumer spending.

As a result, consumers are more willing to embrace new technologies and explore innovative shopping experiences. Furthermore, the government of Chile has been supportive of digital transformation and innovation, providing incentives and support for businesses to adopt new technologies. In conclusion, the Metaverse eCommerce market in Chile is experiencing rapid growth and development, driven by changing customer preferences, local special circumstances, and underlying macroeconomic factors.

Retailers are embracing virtual shopping experiences to meet the demands of tech-savvy consumers and enhance their online presence. As the market continues to evolve, it is expected that Metaverse eCommerce will become an integral part of the retail landscape in Chile, offering new opportunities for businesses and consumers alike.

Methodology

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.