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Modelling the predictors of consumers’ willingness to pay premium price for sustainable products

Modelling the predictors of consumers’ willingness to pay premium price for sustainable products The purpose of this paper is to increase existing knowledge of consumers’ sustainable products via converging and testing social identity and value-belief-norm theory used in sustainable behaviour literature. More specifically, the present paper incorporated consumers’ orientation towards a lifestyle of health and sustainability (COLOHAS), attitude towards sustainable products’ (ATSP’) purchase, perceived consumer effectiveness and perceived knowledge about sustainability issues as a conceptual framework to understand comprehensively consumers’ willingness to pay premium price (WPPP) for sustainable products.Design/methodology/approachThe data were gathered through a survey of 850 customers residing at Delhi-NCR and buying sustainable products. Data were analysed using the structural equation modelling approach.FindingsThe results show that perceived consumer effectiveness has a greater descriptive value on their WPPP than do their ATSP’s purchase and perceived knowledge about sustainability issues. Additionally, both dimensions (health consciousness and value orientation towards sustainability) of COLOHAS have been found to have a significant and positive influence on consumer ATSP.Research limitations/implicationsThe empirical results offer managers with better insights on how COLOHAS, perceived effectiveness and perceived knowledge about sustainability issues influences their WPPP for sustainable products.Originality/valueThis study adds to the body of literature by emphasizing those cognitive processes that influence the customers’ WPPP for sustainable products. Therefore, this paper presents important information to the managers and marketers about the sustainability aspects. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Asia Business Studies Emerald Publishing

Modelling the predictors of consumers’ willingness to pay premium price for sustainable products

Journal of Asia Business Studies , Volume 15 (4): 25 – Aug 4, 2021

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Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
1558-7894
DOI
10.1108/jabs-03-2020-0099
Publisher site
See Article on Publisher Site

Abstract

The purpose of this paper is to increase existing knowledge of consumers’ sustainable products via converging and testing social identity and value-belief-norm theory used in sustainable behaviour literature. More specifically, the present paper incorporated consumers’ orientation towards a lifestyle of health and sustainability (COLOHAS), attitude towards sustainable products’ (ATSP’) purchase, perceived consumer effectiveness and perceived knowledge about sustainability issues as a conceptual framework to understand comprehensively consumers’ willingness to pay premium price (WPPP) for sustainable products.Design/methodology/approachThe data were gathered through a survey of 850 customers residing at Delhi-NCR and buying sustainable products. Data were analysed using the structural equation modelling approach.FindingsThe results show that perceived consumer effectiveness has a greater descriptive value on their WPPP than do their ATSP’s purchase and perceived knowledge about sustainability issues. Additionally, both dimensions (health consciousness and value orientation towards sustainability) of COLOHAS have been found to have a significant and positive influence on consumer ATSP.Research limitations/implicationsThe empirical results offer managers with better insights on how COLOHAS, perceived effectiveness and perceived knowledge about sustainability issues influences their WPPP for sustainable products.Originality/valueThis study adds to the body of literature by emphasizing those cognitive processes that influence the customers’ WPPP for sustainable products. Therefore, this paper presents important information to the managers and marketers about the sustainability aspects.

Journal

Journal of Asia Business StudiesEmerald Publishing

Published: Aug 4, 2021

Keywords: Consumer attitude; Perceived knowledge; Perceived consumer effectiveness; Sustainable products; Willingness to pay premium price

References