Darren Herman

It’s been almost a year since I’ve posted about virtual goods, but read Mike Gowen’s recap of the Virtual Good Summit that occurred recently.  Here are some takeaways that are extremely important:

• Teens expressing themselves may take more to branded items as they like to align with them.
• People creating UGC are creating their OWN branded content. Others follow their brands as the would real world ones.
• If an item doesn’t promote status the price goes lower.
• We’re moving more towards activity. Goods should extend activity. Wave of the future
• Don’t just think about goods for you…think about gifting. There’s only so much you can have/wear
• You need ~$200,000 a month of primary sales before you can get into the secondary market.
• Secondary markets allow the trade of time and money.
• No demand for virtual items, only demand for games, then demand within context of game.

As you can see, this was a fascinating conference.  Check out more here.  Click to see pics from the event.