Samsung Invests Millions in the Metaverse for Latin Americans
The Korean electronics giant, Samsung, has announced that it is currently investing more than USD 35 million in the metaverse for Latin American consumers. The investment is targeted to help the brand connect with the younger generation as part of its digital push and growth marketing strategy.
The Metaverse Push in Latin America
Companies have started placing their products and brands in the
metaverse as an important part of their marketing strategy. Samsung is one of
the biggest electronics companies in the world that has announced investing
more than USD 35 million in the metaverse for Latin American consumers.
Anita Caerols, director of marketing and corporate citizenship
at Samsung Electronics Chile, explains the motivations behind the virtual reality
push for the company in an article published
on December 20. She stated:
"At Samsung, we believe that the metaverse is a concrete
commitment to connecting with young consumers. That is why we are investing
more than USD 35 million in initiatives that cover all of Latam."
Caerols believes that fully immersive platforms are the future
of marketing, and the metaverse is a natural extension of social media
platforms. Therefore, it makes more sense for companies like Samsung to explore
and connect with the new, young generation of consumers.
Focus on ‘Catch Them Young’
Samsung’s focus on the metaverse and the quantum of investment
in the sector is part of the company's global marketing vision to "catch
them young" and bring them into the company fold. Caerols explained:
"If a business needs to speak and connect with young
audiences, prospect current and future potential consumers, and engage with new
influencers, it is imperative that it be in the metaverse starting now."
It is Gen Z and Gen Alpha, categories of audiences that are more
accustomed to the platforms, and Samsung wants to attract them to its proposal
and products. The Linkedin study data reveals that 400 million users visit the
metaverse platforms every month, and 51% of them are aged below 13 years.
Samsung’s interest in the virtual world is not new, and the
company already has a significant presence on a few of the metaverse platforms.
The company launched its
"House of Sam" experience in Decentraland in October, allowing users
to interact virtually with products of the company.
Earlier, Samsung also launched another
metaverse experience on Roblox, called "Space Tycoon," in July for
users to be part of a space station where they could build Samsung products
with raw materials.
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