Customers today expect much more from the brands and companies they work with, and increasingly that expectation includes a desire for personalized service. Per research by McKinsey, 71% of customers want a personalized experience and 76% become frustrated by a lack of such interactions.
Metaverse seems to be the buzzword ever since Facebook announced its name change to Meta to highlight the company's focus on building a Metaverse. This led to an avalanche of interest in Metaverse-related projects with global Google searches for "metaverse" going up by 7200% in 2021. Total investment into Metaverse has already reached $120 billion in the first five months of 2022.
According to Harvard Business Review, the exponential growth in mobile proliferation and better connectivity has resulted in customers depending heavily on their smartphones to access online services and information.