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Factors Influencing Vietnamese Generation MZ’s Adoption of Metaverse Platforms

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  • 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
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    References listed on IDEAS

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    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.
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    More about this item

    Keywords

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

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