Phygital products: Effects and boundaries of metaverse-first retail strategies
研究了元宇宙优先零售策略如何降低消费者对虚实融合产品的支付意愿，并发现通过店内氛围（如快节奏音乐）提升唤醒度可缓解这一负面效应。
• Phygital Products (PPs) are combined physical-digital offerings whose components are linked together using NFTs • PPs can be retailed by selling the digital (vs. physical) component first in the metaverse, redeeming the physical (vs. digital) component later • Metaverse-first retailing strategies decrease willingness to pay due to decreased investment value perceptions • This valuation penalty can be mitigated by increasing arousal through in-store atmospherics The metaverse offers unique opportunities to retail Phygital Products (PPs)—combined physical-digital offerings whose components are linked together using NFTs. Despite their rising popularity and operational efficiencies, PPs pose a number of distribution challenges likely to influence customer valuations of these products. This research investigates how different retail strategies (metaverse-first vs. physical store-first) influence willingness to pay for PPs. Five experimental studies, including one conducted in a simulated metaverse store, show that metaverse-first retail strategies decrease willingness to pay (Studies 1A-1C) due to decreased investment value (Study 2). This valuation penalty can be mitigated by manipulating arousal through in-store atmospherics. Specifically, increasing music tempo reverses the negative effect of metaverse-first retail strategies on investment value and willingness to pay (Study 3). Our findings inform actionable strategies on how to retail PPs in the metaverse to maximize distribution reach while reducing valuation penalties.