When you talk about buying “virtual goods” it kind of feels like you’re actually getting something for your money. But if you think about it, virtual goods are imaginary. Sure, you get a picture representing what you bought but you don’t really own that cow or that casino or that designer outfit you bought to use in an online game.
According to a new study by In-Stat, consumers don’t care. They’re lined up to spend $7 billion on virtual goods by year’s end and it’s likely that the trend will keep going strong as we roll in to 2011.
Thanks to Facebook and iPhones, online gaming isn’t just for teens anymore. Now people of every age, gender and socio-economic background are spending their free time building virtual farms, battling monsters or training to be a Jedi.