More teenage consumers own and have been actively using virtual reality and augmented reality headsets (VR/AR) — like the latest products out from Apple (AAPL) and Meta Platforms (META) — according to a Piper Sandler survey.
Yahoo Finance Tech Editor Dan Howley breaks down the survey results and what they mean in terms of consumer sentiment from teen shoppers.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance.
This post was written by Luke Carberry Mogan.
Video Transcript
[AUDIO LOGO]
JOSH LIPTON: More teens are getting in on the ownership of a VR device that’s to Piper Sandler. But it appears more work still needs to be done to leave an impression. Here with the details, Yahoo Finance’s, Tech Editor Dan Howley. Dan.
DAN HOWLEY: That’s right, Josh. According to this survey, it looks as though some more teens may be buying headsets. But then there’s still a number who are not interested in buying them and an even bigger number who just buy them and don’t use them.
So let’s just go over some of the numbers real quick. According to Piper Sandler’s taking stock with teens survey, 32% of teens are not interested and have no plans to buy an AR or VR headset. That’s the same number that they saw in spring 2022.
Just 9% of teens surveyed say they’re interested or plan to end– excuse me. End plan to purchase a headset. While 21% say they’re interested, but just don’t want to buy one. So maybe they’ll check one out at a friend’s place or at a store.
The other issue that we talk about is how often these are being used. So only 4% say they use headsets every day. While 56% say they seldom use them.
That’s an increase from 48% in 2022. Basically, backing up that idea that people might buy headsets, but then they just collect dust on a shelf somewhere after plunking down that couple of hundred dollars. And so this is a big deal for companies like A, Apple, and B, Meta. Both of which are in this AR/VR space.
Apple, obviously, has the Apple Vision Pro $3,500. Don’t think a lot of teens are going to be plunking down the cash on something like that, unless their parents want to go ahead and do that for them. The other is the Meta Quest 3, which is Meta’s mainline version. That’s more than $400.
So, you know, it’s either that or a PS5. And you know, I’m a teen, and still act like one. I’m getting the PS5. So I think that’s a problem that these companies are going to have to overcome. Part of that comes down to ensuring that they have apps, and games, and other things that are appealing to users to get them to want to not only buy a device, but then continue to use it beyond the wow this was cool for 15 minutes phase.
JULIE HYMAN: Yeah. I’m just still laughing at you talking about spending like a teen on your gaming. Dan Howley, that’s why you’re the perfect person to cover this stuff for us. Really appreciate it. Thanks, Dan.
Maria Malik is your guide to the immersive world of Virtual Reality (VR). With a passion for VR technology, she explores the latest VR headsets, applications, and experiences, providing readers with in-depth reviews, industry insights, and a glimpse into the future of virtual experiences.
