In Walker Percy's "The Moviegoer," the nature of the search refers to the deep quest for meaning that everyone should embark upon, transcending their mundane daily existence. It suggests that acknowledging this quest is a crucial step toward personal awareness and fulfillment. Engaging with the search can lead to deeper insights about oneself and the world.

Conversely, failing to recognize or engage in this search leads to despair. The author emphasizes that complacency in everyday life can result in a lack of purpose, highlighting the importance of seeking out a more significant understanding of life and one's place in it. This search represents a vital, existential journey for individuals.