A Study On Understanding The Impact Of Virtual Reality And The Metaverse On Economic Activities: Switching From E-Commerce To V-Commerce

Abstract

The shift in focus from traditional e-commerce to the emerging sector of virtual commerce (v-commerce) within the metaverse—a shared virtual setting made possible by the combination of physically persistent virtual reality and virtually enhanced physical reality—is examined in this study. The metaverse's immersive and interactive features have transformed the way people purchase, sell, and shop for goods and services, thus altering the economic landscape. The study explores whether business models, consumer behaviour, and the economy as a whole are impacted by virtual reality (VR) technologies. It looks into how the use of VR is changing the way consumers spend by providing immersive, interactive, and personalized platforms that affect how consumers make decisions. The implications of these changes for firms are further examined in the study, with a focus on strategy, operations, and customer interaction. The study additionally addresses the possibilities and challenges brought forth by the metaverse economy, including concerns about security, privacy, the digital divide, and legal frameworks. It also highlights whether v-commerce may foster innovation, sustainability, and economic growth in the digital era. The paper's assessment of v-commerce's future introductions and potential business tactics to succeed in this new economic climate comes to a climax.