Understanding Consumer Behavior in Virtual Ecosystems

Abstract

This chapter outlines the understanding of consumer behavior in the virtual ecosystem and the adoption of immersive technologies in the metaverse among consumers. The metaverse is based on the convergence of technologies that enable multisensory interactions with virtual environments, digital objects, and people such as virtual reality (VR) and augmented reality (AR). This chapter covers the impact of consumer behavior in metaverse followed by the strategies adopted by entrepreneurs to work in metaverse to reach consumers. This chapter outlines the metaverse market size, trends, growth, and forecast. This chapter offers a comprehensive framework that examines the metaverse development under the dimensions of metaverse ecosystem. This chapter further aims at identifying the challenges and issues faced in adoption of immersive technologies in metaverse. The metaverse also poses numerous problems to our customary modes of communication and teamwork. The metaverse is significant for retailers for a number of reasons in addition to remaining on the bleeding edge of technology.