This study provides a structured literature review of consumer behaviour in the metaverse, exploring motivations for metaverse use, adoption, avatar engagement, virtual goods purchases, non-fungible tokens (NFTs), and the impact of brand experiences on real-world product purchase intentions. For this purpose, a systematic review of peer-reviewed articles published over the past two decades was conducted. From an initial pool of 209 articles retrieved from electronic databases, 36 met the inclusion criteria and were thematically analysed. Key trends, knowledge gaps, and future research directions were identified. A novel adaptation of the engagement framework was proposed, categorizing consumer behaviour in the metaverse into three stages: pre-engagement, engagement, and post-engagement. The review reveals that Second Life is the most studied platform, with surveys being the predominant research method. Research has primarily focused on retail, fashion, and tourism, particularly virtual product purchases. Despite providing valuable insights, existing studies reveal substantial research gaps and limited theoretical development. The proposed framework organizes recurring themes and provides a foundation for future research, highlighting the need for empirical evidence to further advance the field. This study is one of the first to systematically review consumer behaviour research in the metaverse and propose a stage-based framework, contributing to theoretical understanding and offering structured directions for future empirical research. JEL Classification: M31; O32; Q55 Article History: Received: June 30, 2025; Reviewed: September 5, 2025; Accepted: September 22, 2025; Available online: September 29, 2025.
Abstract This study investigates the digital transformation trends in the Korean fashion industry over the past decade, focusing on business models, processes, services, products, and customers. Using bibliometric and big data analyses, we examined articles from journals listed on the Korea Citation Index (KCI) from 2014 to 2023. It was revealed that the five factors are not independent but are complementary and interconnected. Keyword frequency and network analysis revealed key themes, including the increasing influence of the metaverse on business models and the significance of ârecognitionâ in digital processes for fashion practitioners and designers. âHanbok,â âNon-Fungible Token,â âVirtual Reality,â and âexperienceâ were notable in services, while âCOVID-19â and â3Dâ emerge as central product discussions. Consumer discussions highlighted âMillennials and generation Z,â âexperience,â and âvalue.â This study provides a comprehensive overview of digital technologies in fashion, offering insights into current trends and future directions. It contributes to the theoretical understanding of digital transformation in fashion and offers practical guidance for industry professionals.
Open access
Consumer Perception and Purchasing Behavior
Consumer Behavior in Brand Consumption and Identification
This is an accepted article with a DOI pre-assigned that is not yet published.Virtual luxury NFT (non-fungible tokens) wearables, introduced by luxury fashion brands, primarily represent digital versions of clothing and accessories minted as NFTs. While young consumers are the key consumer segment for virtual luxury NFTs, research fully investigating young consumersâ motivations to purchase virtual luxury NFTs are scarce and limited, with only a few investigating consumersâ general interest in fashion NFTs employing a qualitative approach or primarily focusing on economic or technical value of NFTs. Drawing from the Customer Value Framework (CVF), this study aims to investigate how multifaceted perceived values associated with luxury consumption and virtual product consumption influence the purchase attitude of young consumers and their willingness to purchase and pay price premiums for virtual luxury NFT wearables. Furthermore, this study explores the moderating effects of gender and income to account for variations in interests and knowledge among different demographic groups.
This study aims to investigate the impact of the digital economy on consumer preferences in the Metaverse era, focusing on the role of Non-Fungible Tokens (NFTs) and tokenization in changing purchase intentions. Using a mixed-methods approach, this study combines quantitative and qualitative analysis to gain a comprehensive understanding of the key determinants of consumer purchase intentions in a rapidly evolving digital context. The results of the quantitative analysis show that perceived value, trust in blockchain technology, and user experience significantly influence consumer purchase intentions towards NFTs. Qualitative analysis through in-depth interviews reveals that scarcity, digital ownership, and community involvement are the main factors driving NFT adoption, while lack of technological understanding and regulatory uncertainty are the main barriers. This study also introduces novelty through the use of machine learning-based sentiment analysis and social network analysis to explore the role of social interactions in the formation of purchase intentions. These findings make important contributions to the literature on the digital economy by offering new insights into consumer dynamics in the Metaverse and highlighting the need for marketing strategies that focus on creating community value and immersive user experiences. Practical implications of this study include the need for consumer education and clear regulations to increase NFT adoption, as well as marketing strategies that leverage the emotional value and scarcity of digital assets. This research contributes to a better understanding of consumer behavior in the digital age and offers recommendations for further research in this area.
Cryptocurrency, a relatively new financial innovation, has sparked widespread interest in recent years, particularly among younger demographics such as college students. As digital currencies such as Bitcoin and Ethereum continue to dominate headlines, college students' familiarity and impression of cryptocurrency has become essential for assessing its future adoption and investment opportunities. This study investigates the level of investor awareness, interest, and perception of cryptocurrencies among college students, a demographic that represents the future of technical and financial advancement.College students are often seen as technologically adept and open to new technologies, making them an ideal group for researching cryptocurrency awareness. However, the complexity, volatility, and lack of legal structures surrounding cryptocurrencies have piqued interest while also raising concerns. This study looks at how students comprehend important cryptocurrency concepts such as blockchain technology, decentralized finance (DeFi), digital wallets, and the risks of investing in these digital assets.The findings indicate that, while a considerable majority of college students are aware of cryptocurrencies, their level of understanding differs. Many students have a shallow understanding based on media exposure or peer discussions, with a lesser fraction having participated in actual trading or investment. Factors such as field of study, access to financial education, and socioeconomic status all influence the level of awareness. Students in technology-related professions have a better understanding of the underlying blockchain technology, but those in finance and economics are more aware of the investment opportunities and hazards.Despite increased interest, many students are concerned about the volatility and unpredictability of the bitcoin market. Regulatory uncertainty and the possibility of fraud or hacking are highlighted as major causes for hesitation. Furthermore, the absence of formal financial instruction on bitcoin in college curricula inhibits students' capacity to make sound investment decisions.This study emphasizes the need for improved educational programs to give college students a thorough understanding of bitcoin. Colleges can help students navigate the evolving financial world with greater confidence by addressing knowledge gaps and concentrating on appropriate investment practices. The development of cryptocurrencies as a mainstream asset class may be heavily reliant on the understanding and preparedness of young investors, making it critical to cultivate a well-informed student body.
Linking Consumer Innovativeness to the Cryptocurrency Intention: Moderating Effect of the LOHAS (Lifestyle of Health and Sustainability) Lifestyle by Sooyeon Choi1,* , Richard A. Feinberg 2 1 Assistant Professor, Marketing, Loras College, IA, 52001, U.S.2 Emeritus Professor, Consumer Sciences and Retailing, Purdue University, IN, 47907, U.S. * Author to whom correspondence should be addressed. Journal of
Blockchain, which is spotlighted as one of the core technologies in the Web 3.0 era, is being used as a tool for high security and decentralization. In addition, blockchain has been positioned as a core technology for services such as cryptocurrency, NFT, De-Fi, and metaverse, and has already provided high-quality services. In particular, cryptocurrency has shown rapid growth and has been receiving worldwide attention. Cryptocurrency is a web technology and has the property that it can be an investment target, and it is expected to develop further in the future. In this research, we analyzed factors influencing the intention to use cryptocurrency and structural causalities among the factors. We considered personal characteristics, characteristics of cryptocurrency itself, and social characteristic, and a research model has been established for an empirical study. In addition, a multi-group analysis was performed to identify differences between users and non-users. As a result of the analysis, it was found that some of the personal characteristics and cryptocurrency characteristics affect the intention to use. And in the case of non-users, it was found that not only personal and cryptocurrency characteristics, but also social characteristic influence their intention to use. The results of this research are expected to provide implications for cryptocurrency service providers and users, as well as institutions that establish related policies.
Blockchain and Non-Fungible Token (NFT) has gained tremendous attention over the years. NFT is a type of cryptoasset that makes use of blockchain to track the ownership of digital items including photographs, videos, and text. This paper proposed hypotheses regarding consumers' interests in NFT fashion products that are validated through quantitative studies of questionnaires. Furthermore, secondary resources from official sources also proved the research significance of NFT fashion products. Based on the results analyzed, it is reasonable to conclude that customers are interested to understand NFT products and indicated willingness to purchase them. Though challenges continue to exist as NFT is still in its early stage, the future of NFT backed by blockchain technology and consumers' confidence in digital fashion products are bright. This paper hopes to add knowledge to the current understanding of consumers' relationship with NFTs and fashion and create both theoretical and practical contributions.
Purpose: Purpose-This paper aims to introduce and discuss blockchain technology and its effect on the hospitality and tourism industry as well as a practical point of view to hospitality and tourism businesses. The central interest in this study is to produce a new and rigorous in-depth analysis that will provide the basis for a broad debate and perspective on potential uses of blockchain technology for hospitality and tourism research as well as the industry as a whole. Importance of the research: This study leads to knowledge development in the tourism industry by creating an extensive structure that enhances hospitality and tourism efficiency. The current study thus helps to alleviate tourism & hospitality integrated blockchain technology. Theory: A single technology adoption and use theory (UTAUT 2) is the fundamental theory for this study. Reference was made in this analysis to progress in the growth of the blockchain capability of hospitality and tourism.Methods: The current study focused on a concise methodology and quantitative analysis.QR is the simplest way to accept or deny a theory.Quantitative analysis from all of Malaysia has been obtained through a cross-sectional analysis via the sampling method. Originality: One of the latest researchto boost the efficiency of hospitality and tourism performance by blockchain. This research demonstrates how blockchain (familiarity, concern and error), trust,facilitating condition, consumer intention and blockchain adoption.
Agriculture is indispensable for every country. Farmers use pesticides in large quantities to increase productivity, thus causing serious damage to the agro-ecological environment. If consumers consume a large number of such vegetables, there can be an adverse effect on their health. Therefore, consumers shift from consuming general vegetables to organic vegetables. However, the price of organic vegetables is higher than that of general vegetables, and there are doubts about the authenticity of the production and marketing process. Unfortunately, production and sales records are often falsified. The blockchain may be able to guarantee the authenticity of organic vegetables because the blockchain is tamperproof and transparent. Therefore, we proposed an exercise environment for the production and marketing of organic vegetables by using Ethereum. This proposed system can ensure the authenticity of the production and sales record, it may increase the sales of organic vegetables and solve the problem of agricultural ecological environment pollution in the real world.
The purpose of this study is to determine the factors influencing investors' decision making on cryptocurrency investments and create investors' preference partworths by conducting conjoint analysis. In conjoint method, assessment criteria are called as attributes and each attribute has more than one level. Methodology-In this study, conjoint analysis has been conducted to create investors' preference partworths. Conjoint method is a statistical method which is conducting a survey-based research design that provides information on respondents' choices on attributes and their levels for a specific product or an investment option. In the first step, attributes and their levels have been determined, then conjoint bundles, which form the basis of the survey form, were created. As a third step, data collected have been analyzed and preference partworths have been created. Findings-Data collected for the study have been analyzed by using Marketing Engineering for Excel software. The findings of this preliminary study indicate investors' priorities in cryptocurrency investments. By assessing these priorities, a highly competing cryptocurrency can be created.
Purpose - The purpose of this study is to subdivide trade transaction-centered structure in a logistics/distribution industry system to apply blockchain, to establish and resolve with which types of technology, and to provide policy direction of government institution and technology to apply blockchain in this kind of industry. Research design, data, and methodology - This study was conducted with previous researches centered on cases applied in various industry sectors on the basis of blockchain technology. Results - General fields of blockchain application include digital contents distribution, IoT platform, e-Commerce, real-estate transaction, decentralized app. development(storage), certification service, smart contract, P2P network infrastructure, publication/storage of public documents, smart voting, money exchange, payment/settlement, banking security platform, actual asset storage, stock transaction and crowd funding. Blockchain is being applied in various fields home and abroad and its application cases can be explained in the banking industry, public sector, e-Commerce, medical industry, distribution and supply chain management, copyright protection. As examined in the blockchain application cases, it is expected to establish blockchain that can secure safety through distributed ledger in trade transaction because blockchain is established and applied in various sectors of industries home and abroad. Parties concerned of trade transaction can secure visibility even in interrupted specific section when they provide it as a base for distributed ledger application in trade and establish trade transaction model by applying blockchain. In case of interrupted specific section by using distributed ledger, blockchain model of trade transaction needs to be formed to make it possible for parties concerned involved in trade transaction to secure visibility and real-time tracking. Additionally, management should be possible from the time of contract until payment, freight transfer to buyers through land, air and maritime transportation. Conclusions - In order to boost blockchain-based logistics/distribution industry, the government, institutionally, needs to back up adding legal plan of shipping, logistics and distribution, reviewing standardization of electronic switching system and coming up with blockchain-based industrial road maps. In addition, the government, technologically, has to support R&D for integration with other high technology, standardization of distribution industry's blockchain technology and manpower training to expand technology development.
The fashion industry represents a significant portion of<br> the global gross domestic product, however, it is plagued by cheap<br> imitators that infringe on the trademarks which destroys the fashion<br> industry's hard work and investment. While eventually the copycats<br> would be found and stopped, the damage has already been done, sales<br> are missed and direct and indirect jobs are lost. The infringer thrives<br> on two main facts: the time it takes to discover them and the lack of<br> tracking technologies that can help the consumer distinguish them.<br> Blockchain technology is a new emerging technology that provides a<br> distributed encrypted immutable and fault resistant ledger. Blockchain<br> presents a ripe technology to resolve the infringement epidemic<br> facing the fashion industry. The significance of the study is that a<br> new approach leveraging the state of the art blockchain technology<br> coupled with artificial intelligence is used to create a framework<br> addressing the fashion infringement problem. It transforms the current<br> focus on legal enforcement, which is difficult at best, to consumer<br> awareness that is far more effective. The framework, Crypto CopyCat,<br> creates an immutable digital asset representing the actual product<br> to empower the customer with a near real time query system. This<br> combination emphasizes the consumer's awareness and appreciation<br> of the product's authenticity, while provides real time feedback to<br> the producer regarding the fake replicas. The main findings of this<br> study are that implementing this approach can delay the fake product<br> penetration of the original product market, thus allowing the original<br> product the time to take advantage of the market. The shift in the<br> fake adoption results in reduced returns, which impedes the copycat<br> market and moves the emphasis to the original product innovation.