Introduction
From the evolution of the internet and as a consequence of the development of the digital world, the metaverse emerges. Metaverse is the combination of the word ‘meta’ (implying transcending) and the word ‘universe’, describing a hypothetical synthetic environment linked to the physical world (Lee et al., 2022). The metaverse can also be defined as a new plane of existence (Knox, 2022), where the physical and virtual worlds blend (Riva & Wiederhold, 2022). The technology involved in the metaverse has evolved significantly with the use of virtual reality (VR), augmented reality (AR), extended reality (XR), holograms, headsets, and haptic gloves, allowing users immersive experiences with high levels of interaction (Dwivedi, 2022). Although the term is becoming established and popularized, the concept was first introduced in the novel "Snow Crash" by author Neal Stephenson, published in 1992. In the novel, Stephenson defines the metaverse as a virtual environment of VR and AR parallel to the physical world, in which users interact through avatars (Joshua, 2017 and Lee et al., 2021).
Although the initial applications of the metaverse were in computer games composed of virtual worlds, where gaming companies competed to offer unique experiences to their users, the recognition of the metaverse as the future of the internet began to attract attention from other sectors (Narin, 2021). The metaverse has become an enormous potential for companies to reinvent or adapt their business models and interact with consumers. From education to healthcare, from leisure to tourism, hospitality, and retail, there are many sectors where the metaverse is being studied and holds enormous potential for development (see for example Chanda et al., 2024, Dhingra & Abhishek, 2024, Donvito et al., 2024, Kılıçarslan et al., 2024, Nguyen & Voznak, 2024, Pratas, 2023 and Wu et al., 2024,). Is projected the Metaverse market to reach a value of US$74.4bn in 2024 and US$507.8bn, in 2030 (Statista, 2024). By 2030, the number of users in the Metaverse market is expected to reach 2,633.0m users (Statista, 2023). In the specific context of marketing, the metaverse offers managers various opportunities related to the development of new business models, market research, creation of new experiences, new value propositions, new forms of communication, new opportunities for interaction with consumers, and new challenges related to understanding consumer behavior (Diogo & Veiga, 2022 and Yadav et al., 2024). Once the strategy is defined, it becomes equally relevant to measure the return on investment in the metaverse.
As a current and cutting-edge topic, there are several challenges posed to produce knowledge and better understand the phenomenon of the Metaverse in its multiple dimensions, particularly in marketing and consumers (Crespo-Pereira, 2023 and Rosário et al., 2023). As Petit et al. (2022) note, “Younger generations, more interested in the experience and the possession of virtual objects than physical ones, promote the virtues of the metaverse. The appearance of the metaverse will modify consumer behavior and policy-making”. Therefore, it is necessary to study these changes.