Exploring the Metaverse Luxury Product Purchase Intention Though the Lens of Hedonic Motivation and Consumption Value

Luxury brands have the chance to create experiences on the metaverse platform since luxury is about experience and emotion. This study develops and investigates a conceptually comprehensive model of the effect of the Hedonic Motivation System Adoption Model and Consumption Value Theory on the willingness for luxury product purchase through the metaverse platform. Responses from 307 customers were analyzed using structural equation modeling via Smart-PLS. The study unveils that joy, curiosity, and perceived usefulness had a significant impact on creating a flow experience and it further affected customers' willingness to pay. Also, functional, and social consumption values greatly influence the willingness to pay. This paper can be a reference for marketers because brands can leverage the Metaverse strategically, putting long-term customer relationships ahead of immediate profits.