Virtual gifts & goods: an industry growing faster than the real world.

Real gifting is for suckers. Virtual gifting is the way to go. With a market expected to reach $1.6 billion this year and the resounding success of social games such as FarmVille, Zoo World, Happy Aquarium, Pet Society, Restaurant City, and Funky Morgue (one of the above does not exist); virtual goods have proven quite effective at yielding real results.

Now is as good as ever to get a download on where this fresh industry stands, where it is expected to go, and whether you will be celebrating Christmas in front of your laptop or not.

If you were just asked to create a PowerPoint slide or presentation on virtual goods, here is your cheat sheet below:

• The U.S. market for virtual goods is expected to reach $1.6 billion in 2010 (social gaming contributing $835 million). It is expected to climb to $3.6 billion in the next three years. (1)
• 13% of human beings living in America have bought virtual goods in the last year. (2)
• Mean of digital good purchase: $87 in 2009, $99 in 2010. Median is expected to be $50 (vs. $30 in 2009). (2)
• Most consumers purchase virtual goods in games (57%). (2)
• U.S. human beings spent an estimated $168 million on mobile virtual goods in 2009. (2)
• 16% of smartphone owners have purchased in-game virtual goods (2)
• 16% say they have used Facebook credits. (2)
• Males are twice as likely than females to purchase virtual goods. 31% of males 18-24 bought virtual goods in 2009. (2)
• Asian and Hispanics account for 46% of the market (2)
• Virtual goods are an ad format that increased all brand metrics (aided brand awareness, mobile ad awareness, purchase intent). (3)

Sources:
(1) - The Inside Network & ThinkEquity, January 2010 + Pipper Jaffray, 2010
(2) - Playspan & Frank N. Magic Associates, May 2010
(3) - Apps Savvy & InsightExpress, July 2010