EMERGING TECHNOLOGY AND CONSUMER DECISION MAKING IN METAVERSE DEVELOPMENT

Abstract

The emergence of the metaverse signifies a fundamental change in the way people engage with digital settings, obfuscating the distinctions between actual and virtual worlds. In the fast-paced evolution of this digital environment, cutting-edge and nascent technologies have a crucial impact on moulding its growth and influencing the choices made by customers within it. This abstract examines the dynamic correlation between cutting-edge technologies and consumer behaviour in the metaverse. This text explores the profound influence of technologies such as augmented reality (AR), virtual reality (VR), blockchain, artificial intelligence (AI), and spatial computing on the development and use of virtual spaces. Moreover, it analyses the impact of these technical breakthroughs on customers' perceptions, preferences, and decision-making processes in the metaverse. Analysing multiple elements is necessary to comprehend consumer decision-making in the metaverse, encompassing user experience, social engagement, customisation choices, privacy concerns, and economic ramifications. Advanced technologies facilitate immersive and customised experiences, permitting users to navigate virtual environments, interact with virtual assets, and participate in virtual commerce. Nevertheless, the implementation and approval of these technologies are also impacted by obstacles such as technological impediments, security vulnerabilities, ethical deliberations, and digital disparity. Hence, it is imperative for developers and policymakers to tackle these difficulties in order to promote a metaverse ecology that is both inclusive and sustainable. This abstract seeks to offer a thorough comprehension of the intersection between innovative technologies and consumer decision-making in the evolution of the metaverse, by synthesising concepts from several disciplines. It emphasises the significance of continuous research, cooperation, and ethical principles to fully use the capabilities of the metaverse while guaranteeing its accessibility, fairness, and advantages for all parties involved.