Consumer Behavior

Are Fashion Consumers Ready for the Metaverse? Perceived Risks and Purchase Intention on the Metaverse

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Abstract

The metaverse has the potential to expand consumers’ physical reality by offering opportunities to engage in socioeconomic and recreational activities in the virtual world. Despite these potential benefits, consumers’ adoption of the metaverse, especially for shopping and purchasing purposes, is still in the inception stage. One reason for consumers’ slow adoption of the metaverse may be the risks that they perceive. In this conceptual paper, we identify five dimensions of perceived risks (i.e., product/functional risk, time/convenience risk, financial risk, social risk, and psychological risk) that are potentially associated with using the metaverse. Further, we propose these five perceived risks as antecedents to consumers’ intention to purchase via the metaverse. Future research is recommended to gain a deeper knowledge of the role of perceived risks in consumers’ adoption of the metaverse for consumption activities as well as demographic and psychographic factors that may influence these risk perceptions.

Keywords: Metaverse, Perceived risk, Purchase intention, Consumer behaviour

How to Cite:

Al-Amin, F., Tawseef, T. & Kwon, W., (2024) “Are Fashion Consumers Ready for the Metaverse? Perceived Risks and Purchase Intention on the Metaverse”, International Textile and Apparel Association Annual Conference Proceedings 80(1). doi: https://doi.org/10.31274/itaa.17402