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PurposeThis study examines consumers' evaluations of product consumption values, purchase intentions and willingness to pay for fashion products designed using generative adversarial network (GAN), an artificial intelligence technology. This research investigates differences between consumers' evaluations of a GAN-generated product and a non-GAN-generated product and tests whether disclosing the use of GAN technology affects consumers' evaluations.Design/methodology/approachSample products were developed as experimental stimuli using cycleGAN. Data were collected from 163 members of Generation Y. Participants were assigned to one of the three experimental conditions (i.e. non-GAN-generated images, GAN-generated images with disclosure and GAN-generated images without disclosure). Regression analysis and ANOVA were used to test the hypotheses.FindingsFunctional, social and epistemic consumption values positively affect willingness to pay in the GAN-generated products. Relative to non-GAN-generated products, willingness to pay is significantly higher for GAN-generated products. Moreover, evaluations of functional value, emotional value and willingness to pay are highest when GAN technology is used, but not disclosed.Originality/valueThis study evaluates the utility of GANs from consumers' perspective based on the perceived value of GAN-generated product designs. Findings have practical implications for firms that are considering using GANs to develop products for the retail fashion market.

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Industry 4.0 technology enables luxury fashion brands in the virtual market to quantify the value of digital items in the metaverse; thus, brands can maintain their reputations, ensure consistent and integrated luxury brand marketing, and attract new consumers in the virtual market. Understanding consumer behavior toward buying digital assets (i.e., nonfungible tokens [NFTs]) is important. By using blockchain‐based NFTs as a way to verify the authenticity of digital assets in the virtual market, luxury brands can maintain their reputations and help consumers protect their digital assets. Thus, developing global marketing strategies supported by this technology is important for the success of luxury fashion brands in the metaverse. We conducted analyses to explore consumer behavior in the metaverse with regard to blockchain‐based luxury NFTs. The findings reveal the psychological evaluation process as a mechanism that drives consumer behavior toward NFT luxury brand fashion items in global virtual markets. The empirical findings also extend the application of game theory and prospect theory by revealing the psychological evaluation of risks associated with (not) buying luxury fashion NFTs as another mechanism driving consumer behavior in the metaverse.