Breaking into the black box of consumers’ perceptions on metaverse commerce: An integrated model of UTAUT 2 and dual-factor theory

Abstract

The advent of the metaverse has unveiled new promises for the retailing industry, yet little empirical research has explored the factors influencing consumer adoption intention in this context. This study aims to fill this gap by employing an integrated model of UTAUT 2 - “The Unified Theory of Acceptance and Use of Technology 2”, and Dual-factor Theory to investigate both barriers and enablers in metaverse commerce adoption. Using a sample size of 567 respondents, the data analysis method employed in this study is Structural Equation Modeling (SEM) with Partial Least Squares (PLS). The results reveal the driving factors affecting consumer adoption intention in metaverse commerce. The study identifies perceived technological, regulatory, and cyber risks as significant barriers to consumer adoption intention in metaverse commerce. Conversely, the findings highlight the importance of performance and effort expectancy, perceived herd behaviour, hedonic motivation, and consumer innovativeness as key enablers driving consumer adoption intention in metaverse commerce. Interestingly, subjective norms were found to have an insignificant effect in this context. This research contributes to understanding consumer behaviour in the emerging field of metaverse commerce and provides valuable insights for practitioners and policymakers. The identified barriers and enablers can guide strategic decision-making, allowing businesses to address consumer concerns and capitalize on the factors that drive adoption intention in this novel environment. Future research avenues could explore additional factors and delve deeper into the dynamics of consumer behaviour within the metaverse.