As we move towards 2030, we’ll see a widespread embrace of synthetic enhancements and virtual experiences that improve our health and the way we pursue pleasure.
This will have a major impact on the experience, and consumption, of Consumer Packaged Goods (CPG) brands. In 2021 Facebook, now renamed ‘Meta’ announced it planned to spend at least $10 billion that year on developing its version of the ‘metaverse’, fusing AR and VR hardware, together with software and content. (1) This could meet strong consumer demand. In a recent dentsu Navigator study, 54% of Americans told us they believe the Metaverse will be a part of our lives in 10 years. (2)
To prepare for a future where consumers will expect the shopping of physical products to bleed into an increasingly virtual world, CPG brands need to plan how they should be investing in, and enabling, virtual payment systems, harnessing tech such as 3D printing to supply products on-demand and creating new virtual experiences for their customers. For instance, at CES 2022, Procter & Gamble unveiled an updated version of its P&G LifeLab, a virtual world that connects consumer product experiences and innovations across brands and business units including Oral-B, Gillette, Tide, and P&G Beauty. (3)
Crucially, people see virtual reality as a great way of building human connections and togetherness. With this in mind, by 2030, brands will need to engage all the senses to establish an empathetic, human presence in consumers’ lives, exploring ways of ‘showing up’ authentically in experiences people find culturally relevant, even if advertising or brand placement is not possible.
To learn more about how consumer expectations for the future will transform the CPG sector, download the full CPG 2030 report here.
- Facebook Is Spending at Least $10 Billion This Year on Its Metaverse Division (The Verge).
- Digital Ownership & The Metaverse: Consumer Sentiment Study (dentsu Navigator).
- Procter & Gamble Shifts to Online Presence with Immersive Lifelab Experience at CES 2022 (Global Cosmetic News).