Exploring the influence of immersive technologies on purchase behavior in the real estate sector: a cognition-affect-conation model approach

Purpose This article explores the role of immersive technologies and their influence on an individual's purchase behavior using cognition-affect-conation model. This article aims to investigate the role of virtual reality in the real estate sector to examine the effect on users' Investment Behavior unpinned by signaling theory. Design/methodology/approach The responses were recorded using a standardized instrument from 404 respondents. The responses were collected from the Delhi NCR region, where respondents recently visited the real estate offices and taken a virtual tour of their future dream house. Partial least squares-structural equation modeling (PLS-SEM) was applied to test the proposed hypotheses. Findings The findings of the study revealed a significant relationship between user immersiveness, virtual presence, user engagement, perceived realism and purchase intention. The moderating role of technological self-efficacy was also measured, and the relationship between perceived realism to purchase intention was significantly moderated. Surprisingly, there was no moderation of technological self-efficacy between user engagement and purchase intention. Practical implications The research article enables real estate companies to frame specific strategies and gain benefits from the information shared by the users. Real-time experience allows companies to understand the customers' needs and develop or customize their future houses accordingly. Originality/value Exploring the relationship between user immersiveness, virtual presence, user engagement, perceived realism, technological self-efficacy and purchase intention in the Indian real-estate sector is a relatively novel idea. Prior literature showed a dearth of research focused on technological self-efficacy's role through the signaling theory lens and underpinned through the CAC framework. These empirical findings help organizations to develop customized strategies.