The metaverse is emerging as the next digital environment for people not only to interact and collaborate withothers, but also to have virtual consumption experiences. In this study, virtual fashion items for the consumer's digitalself are deemed significant products with consumption value. Drawing from the regulatory focus theory, this study examineshow consumers’ promotion and prevention focus influence value perception and buying behaviors of virtual fashionitems in the metaverse context. The data were collected through an online survey. A total of 546 consumers in their twentieswho are aware of the metaverse responded to a self-administered questionnaire. The results showed that promotionfocus influenced all the perceived consumption values of virtual fashion items such as the economic, visual authority,hedonic, and social value, whereas prevention focus influenced only the visual authority value. Visual authority value negativelyaffected both purchase intention and willingness to pay premium price, while others had a positive effect. The findingsprovide theoretical evidence that consumers’ regulatory focus is critical in buying virtual fashion items and suggestthat marketers devise effective strategies to stimulate consumers’ regulatory focus and to emphasize the econom...