Is Metaverse Intended for Purchasing? An Empirical Investigation

Year 2024, Volume: 4 Issue: 2, 94 - 104

Nepoleon Prabakaran , Harold Andrew Patrick

https://doi.org/10.57019/jmv.1485027

Abstract

The metaverse, a digitally accessed immersive virtual environment, has the capacity to transform online retail by providing consumers with distinctive product experiences. This study examines how consumers behave when using metaverse platforms for purchasing. It specifically looks at how trust and perceived enjoyment play a part in influencing their desire to make a purchase. A quantitative methodology was utilized, with a total of 483 undergraduate students taking part in an experiment that entailed engaging with a metaverse retail platform called Decentraland, as well as completing a questionnaire that they administered to themselves. The results of the structural equation modelling analysis showed that the consumer's attitude towards the metaverse platform had a substantial positive effect on trust (β = 0.53) and perceived enjoyment (β = 0.39). These factors, in turn, had a favorable impact on purchase intention (β = 0.42 and β = 0.62, respectively). Furthermore, it was discovered that trust (with an indirect effect of 0.223) and perceived enjoyment (with an indirect effect of 0.241) play a major role in mediating the connection between customer attitude and purchase intention. The results enhance our comprehension of consumer behavior within the metaverse framework, highlighting the significance of cultivating trust and enjoyment to stimulate positive purchase intentions. The paper examines the consequences of the study for both theoretical and managerial perspectives. It emphasizes the importance for creators of metaverse platforms and brands to prioritize methods that build trust and boost the perceived satisfaction of users through immersive, interactive, and engaging virtual experiences. Proposed future study directions aim to overcome restrictions and broaden the scope of investigation as the metaverse continues to develop.

Keywords

Metaverse, consumer attitude, trust, purchase intention, perceived enjoyment

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