Examining the customer experience in the metaverse retail revolution

Abstract

This research examines how the metaverse empowers businesses to craft personalized customer experiences that transcend the limitations of conventional retail settings. Following a review of the literature, we present theory-driven, managerial-oriented research opportunities that advance our understanding of the customer journey and retailing in the metaverse. Opportunities in the prepurchase stage of the customer journey include self-expression and engagement, social influences, and uncertainty avoidance. In the purchase stage, service script disruptions, hyper-personalized experiences, and the disruption of scarcity and NFTs (non-fungible tokens) present potential differentiation strategies. In the postpurchase stage, retailers may gain a competitive advantage by understanding how consumers value the unboxing experience, evaluate products, and deepen customer engagement and advocacy in this new shopping environment. Taken together, we present a three-pronged approach for retail scholars to extend our knowledge of the customer journey within the metaverse and offer practical suggestions for the retailers currently navigating this new paradigm.