“What your friends think and what people like you think is much more relevant than what everybody thinks,” said Augie Ray, an analyst with Forrester Research.

Read more…at the NY Times

This just seems crazy to me, but there’s a market for it and a way to reach potential real consumers….what’s more, these people become fans or advocates for the brand on Facebook.

“It’s all about constant connectivity. People live in real time, and established brands have to find ways to keep in touch,” said Marshal Cohen, chief retail analyst for the NPD Group, a market research company.

“Brands are beginning to dabble in reaching out, especially to the under-40 crowd — many still can make discretionary spends,” Mr. Cohen said, referring to the consumer.

So far, the virtual goods market largely consists of micro-purchases. Consumers typically pay $1 to $3 while playing games like FarmVille or Mafia Wars, both created by the social-gaming company Zynga, to get a jump on game rivals. Users also can give a gift, like flowers, or build a collection of items — just as collectors do in real life.

From the NY Times…