Metaverse for Real Estate Marketing: The Impact of Virtual Reality on Satisfaction, Perceived Enjoyment and Purchase Intention

Abstract

Abstract Purpose: This paper investigates how the residential real estate sector could take advantage of the virtual world envisioned by the concept of metaverse – a world of interconnected digital spaces through virtual reality that will incorporate businesses, commerce, entertainment, and social networking. Methods: This study conducted an experiment with 65 potential homebuyers to evaluate responses in the physical and virtual environment. The hypothesized relationships were tested using PLS-SEM statistical analysis method. Results: Results indicate that the atmosphere, satisfaction, perceived enjoyment and purchase intention is statistically different (p < 0.05) in the physical and the virtual environment. This study found that the atmosphere in virtual environment positively effect satisfaction and perceived enjoyment, which subsequently positively effect purchase intention. Conclusion: The results presented in this paper supports the future of metaverse with virtual reality in the real estate sector for enhancing human-computer interactions in terms of consumer experience.