Open Access Journal Article

From E-commerce to V-commerce: Understanding the impact of virtual reality and metaverse on economic activities

by Robertas Damaševičius a,* orcid
a
Department of Applied Informatics, Vytautas Magnus University, Kaunas, Lithuania
*
Author to whom correspondence should be addressed.
JIE  2023 1(3):16; https://doi.org/10.58567/jie01030005
Received: 28 July 2023 / Accepted: 13 September 2023 / Published Online: 26 October 2023
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Abstract

This paper explores the transformative journey from traditional e-commerce to the emerging realm of virtual commerce (v-commerce) within the metaverse, a collective virtual shared space created by the convergence of virtually enhanced physical reality and physically persistent virtual reality. The metaverse, with its immersive and interactive capabilities, is reshaping the landscape of economic activities, creating a paradigm shift in the way consumers shop, sell, and buy goods and services. The study delves into the impact of virtual reality (VR) technologies on consumer behavior, business models, and the overall economy. It investigates how VR is revolutionizing the shopping experience by offering immersive, personalized, and interactive platforms, thereby influencing con-sumer decision-making processes. The paper further examines the implications of these changes for businesses, particularly in terms of strategy, operations, and customer engagement. Moreover, the paper discusses the challenges and opportunities presented by the metaverse economy, including issues related to privacy, security, digital divide, and regulatory frameworks. It also highlights the potential of v-commerce to drive economic growth, innovation, and sustainability in the digital age. The paper concludes with a discussion on the future directions of v-commerce and the potential strategies for businesses to thrive in this new economic landscape.

Keywords: Metaverse; Virtual Reality; E-commerce; V-commerce; Digital Economy;
Copyright: © 2023 by Damaševičius. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

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ACS Style
Damaševičius, R. From E-commerce to V-commerce: Understanding the impact of virtual reality and metaverse on economic activities. Journal of Information Economics, 2023, 1, 16. https://doi.org/10.58567/jie01030005
AMA Style
Damaševičius R. From E-commerce to V-commerce: Understanding the impact of virtual reality and metaverse on economic activities. Journal of Information Economics; 2023, 1(3):16. https://doi.org/10.58567/jie01030005
Chicago/Turabian Style
Damaševičius, Robertas 2023. "From E-commerce to V-commerce: Understanding the impact of virtual reality and metaverse on economic activities" Journal of Information Economics 1, no.3:16. https://doi.org/10.58567/jie01030005
APA style
Damaševičius, R. (2023). From E-commerce to V-commerce: Understanding the impact of virtual reality and metaverse on economic activities. Journal of Information Economics, 1(3), 16. https://doi.org/10.58567/jie01030005

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