Towards the Understanding of Consumer Behavior in the Metaverse

Abstract

The metaverse is not just about gaming. It encompasses a wide range of activities, including socializing, education, entertainment, and commerce. It represents an exciting opportunity for companies, as well as consumers, to interact and engage in new ways. It is important to understand the implications of this emerging trend on consumer behavior. This chapter conducts a systematic literature review using the PRISMA methodology, with the goal of understanding how consumer behavior is shaped in the metaverse. The metaverse will allow businesses to reach new customers who are not geographically close and increase the engagement with their current customers. Despite this, it is not all plain sailing, since all types of innovation involve a process of creative destruction. Sectors affected include marketing, education, and healthcare, as well as social effects related to social interaction factors arising from widespread adoption and issues of trust, privacy, bias, misinformation, law enforcement, and psychological aspects related to addiction and the impact on vulnerable people.