Towards a Metaverse Shopping Revolution: A Mixed-Method Study on Factors Influencing Consumers' Intentions to Adopt Metaverse as Shopping Marketplace

Lisa Hofmann, Yaser Al-Dhabyani and Erdal Arslan
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Lisa Hofmann: Erasmus University, Rotterdam, The Netherlands
Yaser Al-Dhabyani: Vrije Universiteit, Amsterdam, The Netherlands
Erdal Arslan: Anadolu University, Eskişehir, Türkiye

European Journal of Business Science and Technology, 2024, vol. 10, issue 2, 129-155

Abstract: This study aims to understand the factors influencing consumers' intention to adopt the metaverse as a marketplace for physical products and the role of trust specifically focusing on the generation aged 18-28. It also explores the moderating role of trust towards the company Meta in these relationships. An exploratory sequential mixed-method research design was employed to develop an encompassing conceptual model, enhance hypothesis formulation, and validate findings through triangulation. In the first phase of the study, in-depth interviews were conducted with professionals and students (n=11), and in the second phase, Likert-type questionnaire was administered (n=386) to university students. The data collected in the second phase was analyzed using Covariance-Based Structural Equation Modeling (CB-SEM) to validate the conceptual model. This included Exploratory Factor Analysis (EFA) and Confirmatory Factor Analysis (CFA) for reliability and validity, followed by the assessment of path coefficients. Double-mean centering was applied to test moderating effects, with all analyses conducted using the R software's lavaan package. The results confirmed the positive effects of novelty, relative advantage, realism, and compatibility on consumers' intention to adopt the metaverse as a marketplace for physical products, while complexity and financial costs were identified as barriers. Trust towards Meta did not have a moderating effect. The findings provide insights for managers to develop the metaverse in a customer-centric manner and promote its unique features while addressing complexity and financial concerns. The study extends the literature on the metaverse in the consumer goods sector and contributes to Innovation Adoption Theory.

Keywords: metaverse; innovation adoption; metaverse retailing; diffusion of innovations (search for similar items in EconPapers)
JEL-codes: M31 M37 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:men:journl:v:10:y:2024:i:2:p:129-155

DOI: 10.11118/ejobsat.2024.013

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