A consumption value evaluation and environmental consciousness of rental preference on Long-term rental YouBikes in Taiwan

Abstract

The purpose of this study is to develop a conceptual model for understanding rental preferences and their connection to environmental consciousness in the context of long-term YouBike rentals, utilizing the concepts of access-based consumption and the consumption value theory. The primary elements of access-based consumption, including cost acceptance, system flexibility, and product quality, are observed to significantly influence consumers' perceived consumption values, encompassing economic value, efficiency value, and emotional value. These values, in turn, play a pivotal role in shaping rental preferences and, ultimately, influencing long-term rental intentions. A total of 957 valid questionnaires were collected and analyzed using SmartPLS to perform Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings reveal that access-based consumption, cost acceptance (including fees and effort), system flexibility (convenience and availability), and product quality (maintenance and hygiene) all exhibit positive correlations with consumers' perceived consumption values. Moreover, these perceived consumption values are positively associated with rental preferences, which, in turn, positively impact consumers' intentions for long-term rentals. Notably, consumer environmental consciousness has a direct and causal effect on perceived values and the likelihood of choosing long-term bike rentals. Access-based consumption emerges as the key driver in consumers' considerations for long-term rentals. Consequently, it is imperative for companies to give significant consideration to these factors in the development of their business models and the design of their access-based offerings. Furthermore, it is recommended that companies incorporate eco-friendly messaging into their communication when providing access-based services to consumers.