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07 December 2022
Brands can tap the Robux spending trend
Gen Z lifestyles & attitudesMarketing to Gen ZMetaverse
Younger consumers under the age of 13 are strengthening their financial literacy through gaming app Roblox by using its virtual currency Robux, a development that opens up new possibilities for brands looking to reach the pre-teen demographic.
Why it matters
While the established method for reaching a younger audience was through advertising, the current emphasis on establishing a strong presence on this 3-D online platform signals a shift in marketing strategy.
Anecdotal evidence suggests children are happy to receive pocket money in the form of Robux. Brands can tap into this spending by developing effective games and creative items that users can pay for using virtual currency.
A 2021 Forrester Research study reported that children aged 12 to 17 spent around $92 monthly online. Most of that money was allocated to video games, virtual goods, clothing and accessories.
Brands such as Tommy Hilfiger, Nike, Spotify, Gucci and Chipotle have already demonstrated success on Roblox. Gucci’s Gucci Town, for example, received roughly 33 million visits, and Chipotle’s Burrito Builder has received over 17 million visits.
Kids have the option to spend a virtual currency called Robux on products featured in Roblox games.
It’s evident that kids are not new to spending money online, and brands can leverage this shopping habit to their advantage on Roblox.
Brands have tailored their messaging to younger consumers in creative ways on Roblox. Walmart, for example, allows kids to obtain virtual coins for accessorizing their avatars, while Nike allows users to pay for virtual sneakers using coins.
“We have just scratched the surface of what it means to be a thriving and monetizing economy in these 3-D immersive experiences” – Manuel Bronstein, Roblox’s chief product officer at Roblox, speaking to the Wall Street Journal.