Consumer behavior in the metaverse

Abstract

AbstractThe rising interest in the marketing potential of the metaverse and its influence on consumer behavior is undeniable. Experts in the field have identified gaps in understanding consumer behavior in the metaverse and have highlighted the need of further research in the domain. This study addresses this void by focusing on Gen Z and their interactions within the metaverse. Gathering qualitative data through semi‐structured interviews with 63 participants, the study employs a deductive thematic analysis, using the Engel‐Kollat‐Blackwell (EKB) model as its theoretical framework. The findings align with the stages of the EKB model– awareness, information search, engagement, and post‐engagement evaluation. We find that despite facing initial challenges, participants display eagerness to access the metaverse and actively seek engagement opportunities, even encouraging others to join. This research provides empirical insights into challenges and opportunities that exist for consumers and brands within the metaverse. Further, it also enhances our understanding of immersive time in the metaverse and elucidates consumer engagement with digital technologies. Finally, the study also offers practical implications for managers, tech developers, and policymakers looking to enhance consumer interest and involvement in the metaverse.