The bold decision to go “all in”: Understanding the reasons behind consumers' willingness to migrate to the metaverse

Abstract

The study explores the reasons that drive and hinder consumers' willingness to migrate to the metaverse. To determine them, a mixed‐methods approach is used: phase 1 (qualitative) involves conceptual development of a model based on in‐depth consumer interviews, and in phase 2, the conceptual model is empirically tested via structural equation modeling. Results show that social presence is a crucial enabler, while realistic and symbolic threats are significant inhibitors of the willingness to migrate. Preusage cognitive dissonance significantly mediates the relationships between social escapism, social pressure, realistic threat, symbolic threat, and willingness to migrate. Specifically, the mediating influence between empowerment and willingness to migrate is higher for individuals with low metaverse anxiety. Results of the artificial neural network technique indicate that social presence is the most significant antecedent of willingness to migrate, and results of the fuzzy‐set qualitative comparative analysis highlight the presence of six distinct configurations that indicate a high willingness to migrate. This study enriches the behavioral reasoning theory by examining the interplay of the reasons influencing the willingness to migrate. Further, it contributes to the intergroup threat theory by investigating the potential link between willingness to migrate and the presence of realistic and symbolic threats.