IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i20p14940-d1261064.html
   My bibliography  Save this article

Factors Influencing Vietnamese Generation MZ’s Adoption of Metaverse Platforms

Author

Listed:
  • Young-Chan Lee

    (Department of Information Management, College of Global Social Management, Dongguk University, Gyeongju 38066, Republic of Korea)

  • Minh Ngoc Nguyen

    (Graduate School of International Business Cooperative Course, Dongguk University, Gyeongju 38066, Republic of Korea)

  • Qin Yang

    (Graduate School of International Business Cooperative Course, Dongguk University, Gyeongju 38066, Republic of Korea)

Abstract

The Metaverse is a blend of our tangible and digital worlds, marking the upcoming direction of the internet sector. This study strives to identify the elements that affect the uptake of Metaverse platforms in Vietnam. To that end, we pinpointed the factors influencing usage intentions using the Extended Unified Theory of Acceptance and Use of Technology (UTAUT2) model and added a new “switching cost” variable. We gathered and examined data from 520 participants, with 230 from Generation Y (Gen Y) and 290 from Generation Z (Gen Z) using the multi-group analysis in structural equation modeling. The findings reveal that elements such as effort expectancy, performance expectancy, facilitating conditions, hedonic motivation, and value price positively affect the intent to embrace Metaverse platforms. While social influence does not impact the entire dataset, it positively influences Gen Y’s intention. On the other hand, the switching cost acts as a hindrance to adopting Metaverse platforms. It is also noteworthy that significant variations exist between Gen Y and Gen Z concerning these factors. These observations are crucial for industry leaders looking to capitalize on the immense opportunities of Metaverse platforms for sustainable growth in the internet sector.

Suggested Citation

  • Young-Chan Lee & Minh Ngoc Nguyen & Qin Yang, 2023. "Factors Influencing Vietnamese Generation MZ’s Adoption of Metaverse Platforms," Sustainability, MDPI, vol. 15(20), pages 1-17, October.
  • Handle: RePEc:gam:jsusta:v:15:y:2023:i:20:p:14940-:d:1261064
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/20/14940/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/2071-1050/15/20/14940/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Viswanath Venkatesh & Xiaojun Zhang, 2010. "Unified Theory of Acceptance and Use of Technology: U.S. Vs. China," Journal of Global Information Technology Management, Taylor & Francis Journals, vol. 13(1), pages 5-27, January.
    2. Mütterlein, Joschka & Kunz, Reinhard E. & Baier, Daniel, 2019. "Effects of lead-usership on the acceptance of media innovations: A mobile augmented reality case," Technological Forecasting and Social Change, Elsevier, vol. 145(C), pages 113-124.
    3. Ghazal Shams & Mohsin Abdur Rehman & Sarminah Samad & Eeva-Liisa Oikarinen, 2020. "Exploring customer’s mobile banking experiences and expectations among generations X, Y and Z," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 25(1), pages 1-13, June.
    4. Jones, Michael A. & Mothersbaugh, David L. & Beatty, Sharon E., 2002. "Why customers stay: measuring the underlying dimensions of services switching costs and managing their differential strategic outcomes," Journal of Business Research, Elsevier, vol. 55(6), pages 441-450, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Liu, Qian & Shao, Zhen & Fan, Weiguo, 2018. "The impact of users’ sense of belonging on social media habit formation: Empirical evidence from social networking and microblogging websites in China," International Journal of Information Management, Elsevier, vol. 43(C), pages 209-223.
    2. Olayinka David-West & Oluwasola Oni & Folajimi Ashiru, 2022. "Diffusion of Innovations: Mobile Money Utility and Financial Inclusion in Nigeria. Insights from Agents and Unbanked Poor End Users," Information Systems Frontiers, Springer, vol. 24(6), pages 1753-1773, December.
    3. Afsar BILAL, 2010. "Determinants Of Customer Loyalty And Proposing A Customer Loyalty Model For The Banking Sector Of Pakistan," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(1), pages 73-90, May.
    4. Chen, Yanhong & Liu, Luning & Zheng, Dequan & Li, Bin, 2023. "Estimating travellers’ value when purchasing auxiliary services in the airline industry based on the RFM model," Journal of Retailing and Consumer Services, Elsevier, vol. 74(C).
    5. Chung-Yu Wang, 2007. "Investigating antecedents of consumers' recommend intentions and the moderating effect of switching barriers," The Service Industries Journal, Taylor & Francis Journals, vol. 29(9), pages 1231-1241, November.
    6. Xia, Lan & Kukar-Kinney, Monika, 2014. "For our valued customers only: Examining consumer responses to preferential treatment practices," Journal of Business Research, Elsevier, vol. 67(11), pages 2368-2375.
    7. Arfi, Wissal Ben & Nasr, Imed Ben & Kondrateva, Galina & Hikkerova, Lubica, 2021. "The role of trust in intention to use the IoT in eHealth: Application of the modified UTAUT in a consumer context," Technological Forecasting and Social Change, Elsevier, vol. 167(C).
    8. Van den Poel, Dirk & Lariviere, Bart, 2004. "Customer attrition analysis for financial services using proportional hazard models," European Journal of Operational Research, Elsevier, vol. 157(1), pages 196-217, August.
    9. Chen, Xia & Miraz, Mahadi Hasan & Gazi, Md. Abu Issa & Rahaman, Md. Atikur & Habib, Md. Mamun & Hossain, Abu Ishaque, 2022. "Factors affecting cryptocurrency adoption in digital business transactions: The mediating role of customer satisfaction," Technology in Society, Elsevier, vol. 70(C).
    10. Maria Abdul Rahman* & Yusniza Kamarulzaman, 2018. "The Mediating Effect of Satisfaction on Customer Loyalty in Oursourcing Relationships and its Determinants," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 1062-1074:6.
    11. Sander Triest & Maurice Bun & Erik Raaij & Maarten Vernooij, 2009. "The impact of customer-specific marketing expenses on customer retention and customer profitability," Marketing Letters, Springer, vol. 20(2), pages 125-138, June.
    12. Anupam Singh & Priyanka Verma, 2018. "Driving Brand Value Through CSR Initiatives: An Empirical Study in Indian Perspective," Global Business Review, International Management Institute, vol. 19(1), pages 85-98, February.
    13. Amina Abdinoor & Ulingeta O.L. Mbamba, 2017. "Factors influencing consumers’ adoption of mobile financial services in Tanzania," Cogent Business & Management, Taylor & Francis Journals, vol. 4(1), pages 1392273-139, January.
    14. Yan Mandy Dang & Yulei Gavin Zhang & James Morgan, 0. "Integrating switching costs to information systems adoption: An empirical study on learning management systems," Information Systems Frontiers, Springer, vol. 0, pages 1-20.
    15. G. M. Azmal Ali Quaosar, 2018. "Adoption of Human Resource Information Systems in Developing Countries: An Empirical Study," International Business Research, Canadian Center of Science and Education, vol. 11(4), pages 133-141, April.
    16. Chen, Kee-Kuo & Ho, Hui-Ping & Chang, Ching-Ter, 2015. "Estimating attributes importance for container shipping industry by closing the listening gap with maximum convergent validity," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 79(C), pages 145-163.
    17. Stephen Littlechild, 2020. "An Overall Customer Satisfaction score for GB energy suppliers," Working Papers EPRG2027, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    18. Su-Chen(Cecilia) Lin & Mei-Chen Chuang & Chen-Yuan Huang & Chia-En Liu, 2023. "Nursing Staff’s Behavior Intention to Use Mobile Technology: An Exploratory Study Employing the UTAUT 2 Model," SAGE Open, , vol. 13(4), pages 21582440231, November.
    19. Kajikawa, Yuya & Mejia, Cristian & Wu, Mengjia & Zhang, Yi, 2022. "Academic landscape of Technological Forecasting and Social Change through citation network and topic analyses," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    20. Guych Nuryyev & Yu-Ping Wang & Jennet Achyldurdyyeva & Bih-Shiaw Jaw & Yi-Shien Yeh & Hsien-Tang Lin & Li-Fan Wu, 2020. "Blockchain Technology Adoption Behavior and Sustainability of the Business in Tourism and Hospitality SMEs: An Empirical Study," Sustainability, MDPI, vol. 12(3), pages 1-21, February.

    More about this item

    Keywords

    Metaverse; Generation MZ; Gen Y; Gen Z; switching cost; UTATU2; Vietnam;
    All these keywords.

    JEL classification:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:20:p:14940-:d:1261064. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.