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Perceived Consumer Effectiveness and Willingness to Pay for Credence Product Attributes of Sustainable Foods
While perceived consumer effectiveness has consistently been linked to socially conscious attitudes, such as sustainable consumption decisions, the concept appears to have been confounded with other related constructs in the empirical studies measuring its effects on consumer buying intentions and consumer behaviour. A sustainable food consumer evaluation is based on product values and credibility to health, origin, environment, and ethical concerns. The research aimed to examine if sustainability-related perceived consumer effectiveness has an impact on purchase intention and willingness to pay for sustainable food products, in order to provide information on the pricing of sustainable foods. The study was carried out using a quantitative approach on a sample of 1204 young consumers using a self-administered online questionnaire. The results indicated a significant positive relationship between perceived consumer effectiveness and consumers’ willingness to pay a premium price for sustainable food attributes. Based on this willingness to pay a premium price for food products, a WTP Index was developed. The findings revealed that perceived effectiveness has a strong connection with the buying intention of food products with sustainable attributes.
Perceived Consumer Effectiveness and Willingness to Pay for Credence Product Attributes of Sustainable Foods
While perceived consumer effectiveness has consistently been linked to socially conscious attitudes, such as sustainable consumption decisions, the concept appears to have been confounded with other related constructs in the empirical studies measuring its effects on consumer buying intentions and consumer behaviour. A sustainable food consumer evaluation is based on product values and credibility to health, origin, environment, and ethical concerns. The research aimed to examine if sustainability-related perceived consumer effectiveness has an impact on purchase intention and willingness to pay for sustainable food products, in order to provide information on the pricing of sustainable foods. The study was carried out using a quantitative approach on a sample of 1204 young consumers using a self-administered online questionnaire. The results indicated a significant positive relationship between perceived consumer effectiveness and consumers’ willingness to pay a premium price for sustainable food attributes. Based on this willingness to pay a premium price for food products, a WTP Index was developed. The findings revealed that perceived effectiveness has a strong connection with the buying intention of food products with sustainable attributes.
Perceived Consumer Effectiveness and Willingness to Pay for Credence Product Attributes of Sustainable Foods
Ildiko Kovacs (author) / Eva Reka Keresztes (author)
2022
Article (Journal)
Electronic Resource
Unknown
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