The Conversion Rate Problem in E-commerce: A Focus on the Metaverse

This research paper explores the challenges associated with conversion rates in traditional e-commerce platforms and the potential of the Metaverse to address these issues. Using a mixed-methods approach, including qualitative interviews with five e-commerce industry managers and quantitative data analysis from market reports, the study identifies key barriers to conversion in traditional e-commerce, such as cart abandonment (69.57%), lack of sensory engagement, and poor user experience. The findings suggest that AR/VR-powered virtual product trials can increase conversion rates by up to 40%, while blockchain-basedpayment systems enhance security and trust. However, adoption is constrained by high implementation costs ($50,000–$200,000) and security concerns. The research concludes that while the Metaverse presents a transformative opportunity for e-commerce, its success depends on technological advancements, improved user experience, and robust cybersecurity measures