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All Journal Mandalika Journal of Business and Management Studies
Aldian Yusup
Universitas Islam Cirebon, Indonesia
Decision Sciences, Operations Research & Management

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Dissecting the Virtual Consumption Phenomenon and Its Implications for the Traditional Retail Industry Aldian Yusup
Mandalika Journal of Business and Management Studies Vol 1 No 2 (2023): Mandalika Journal of Business and Management Studies
Publisher : Mandalika Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59613/mjbms.v1i2.235

Abstract

The development of digital technology has given birth to the phenomenon of virtual consumption that increasingly dominates modern consumer behavior patterns. Virtual consumption includes the purchase or use of digital goods and services that do not have a physical form, such as items in online games, virtual currency, and shopping through virtual reality platforms. This phenomenon not only has implications for changes in consumption styles, but also poses serious challenges for the traditional, physical-based retail industry. This study aims to examine in depth how virtual consumption affects the sustainability and adaptation strategies of traditional retail players. This study uses a qualitative approach through a literature study method. Data were obtained from various scientific sources such as journal articles, academic books, and research reports, which were analyzed using content analysis methods to identify key patterns and themes. The results of the study show that virtual consumption, especially through media such as e-commerce, augmented reality (AR), and virtual reality (VR), shifts consumer orientation from physical experiences to immersive and personal digital experiences. This has an impact on decreasing visits to physical stores and encouraging traditional retailers to adopt omnichannel strategies, enrich physical store experiences, and apply digital technology adaptively. This study emphasizes that virtual consumption is not just a threat to traditional retail, but also an opportunity to innovate and re-arrange business strategies in the digital era. Therefore, understanding the dynamics of virtual consumption is important for industry players to remain relevant and competitive.
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