Metaverse Marketing: An Investigation into Its Ability to Drive Consumer Behaviour and Associated Risks

In the current era, several businesses are exploring the potential of the metaverse for marketing purposes. However, the area of consumer behaviour remains underexplored with high concerns about consumer risks. The present study, therefore, uses the theory of planned behaviour (TPB) to identify the factors influencing consumer behaviour in metaverse marketing. In addition, the impact of metaverse marketing on consumer behaviour and consumer risks of engaging with the metaverse have been explored. Based on the thematic analysis of 23 studies published between 2019-24, this study concludes that consumer behaviour in metaverse marketing can be influenced by the design features of the metaverse, psychological factors of consumers, perceived benefits, and price and availability of the metaverse equipment. In addition, through extant literature, both the positive and negative impacts of metaverse marketing on consumer behaviour have been identified. Finally, this study sheds light on consumer risks across four themes: security and privacy, ethical, physical and psychological, and legal risks.