Willingness to pay a price premium for energy-saving appliances: Role of perceived value and energy efficiency labeling
| Autor: | Yixiang Zhang, Guanghui Zhou, Congcong Xiao |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Renewable Energy
Sustainability and the Environment 020209 energy Strategy and Management media_common.quotation_subject 05 social sciences Theory of planned behavior Price premium 02 engineering and technology Industrial and Manufacturing Engineering Purchasing Product (business) Willingness to pay Value (economics) 050501 criminology 0202 electrical engineering electronic engineering information engineering Norm (social) Business Marketing Publicity 0505 law General Environmental Science media_common |
| Zdroj: | Journal of Cleaner Production. 242:118555 |
| ISSN: | 0959-6526 |
| DOI: | 10.1016/j.jclepro.2019.118555 |
| Popis: | Energy consumption has caused major crises and severe global challenges, such as environmental problems and climate change. Household appliances are highly utilized products that consume considerable electricity. The wide adoption of energy-saving appliances saves power resources and promotes the development of low-carbon economy. However, energy-saving appliances are usually more expensive than ordinary household appliances, thereby hindering their widespread adoption. Therefore, the factors influencing consumers’ willingness to pay a price premium for energy-saving appliances should be explored. A comprehensive model was constructed based on the theory of planned behavior and consumer perceived value literature. The influencing factors were identified in terms of product, consumer, and regulation and publicity. Data were collected through questionnaire survey method, as it is suitable for collecting data on human beliefs and perceptions. 327 valid responses were obtained from the survey, and the data were analyzed using partial least squares. Results show that consumers’ attitude toward purchasing energy-saving appliances positively impacts willingness to pay a price premium. Consumer perceived quality, price, emotional, and environmental values significantly and positively impact consumers’ purchasing attitude. Furthermore, the perceived effectiveness of energy efficiency labeling institutional mechanism and personal norm significantly and positively influences consumers’ purchasing attitude. Nevertheless, social value, environmental awareness, and media publicity do not significantly affect consumers’ purchasing attitude. Finally, suggestions on how to promote energy-saving appliances were proposed. |
| Databáze: | OpenAIRE |
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