Metaverse is regarded as a virtual reality world driven by various scientific and technological advancements. The metaverse is bringing profound changes to enterprise marketing. This study aims to explore consumers’ value expectations and risk perceptions of the metaverse and provide strategic marketing insights for enterprises seeking to engage in metaverse-based marketing.
This study collected qualitative data through in-depth interviews and online reviews of consumers. Based on perceived value theory and perceived risk theory, this study employed grounded theory analysis to develop a value-risk model that systematically reveals consumers’ value expectations and risk perceptions related to the metaverse.
The analyses revealed six key dimensions of consumers’ value expectations in the metaverse: experiential value, functional value, social value, self-management value, product/service value and societal value. Simultaneously, consumers perceive four major categories of risks: legal and financial risks, technical and functional risks, physical and psychological risks and social and environmental risks.
This paper systematically explores consumers’ value expectations and risk perceptions in the metaverse from an integrated perspective and constructs a theoretical framework based on perceived value theory and perceived risk theory. It enriches the understanding of consumer behavior in the metaverse and provides marketing strategies that create user values while addressing perceived risks.
