AN EMPIRICAL INVESTIGATION OF FACTORS INFLUENCING GREEN PRODUCT PURCHASE INTENTION OF MILLENNIALS

Mohd Maaz Khan Sherwani ,Mohd Amanullah,Mohd Azmi Khan ,Amgad S.d Khaled

doi:10.48185/sebr.v2i1.307

Abstract

This paper looks into the sustainability aspect from millennials point of view and highlight the factors which influence their buying decision to prefer green or eco-friendly products over traditional products. Initially, those factors were identified which have an impact on green product purchase intention and their relationship is assessed. To explore the factors, an extensive literature review was conducted and three factors green brand knowledge, attitude towards green brand and willingness to pay were found to be pertinent. This study adopts a conclusive research design to investigate the impact of these factors on green product purchase intention. Data was analyzed through exploratory factor analysis, confirmatory factor analysis (CFA) and structural equation modeling (SEM) on a sample size of 376. Results of study showed that all the constructs namely green brand knowledge, attitude towards green brand and willingness to pay have direct and positive effect on green product purchase intention.

Highlights

Apart from targeting profit maximization, companies are focusing on generating novel ideas and thinking to position their green brand in an environment-friendly manner to stay competitive and gain consumers' trust
The path analysis shows that attitude towards green brand have a direct and positive impact on green product purchase intention; H1 is supported
The findings of the researchers show that consumers who are having a positive attitude of consumer towards green brand are favorable and have a high motivation to purchase green product

Summary

Introduction

Apart from targeting profit maximization, companies are focusing on generating novel ideas and thinking to position their green brand in an environment-friendly manner to stay competitive and gain consumers' trust. In this manner, organizations can achieve sustainability in their operations and protect the environment. Eco-friendly consumer is referred to one who spends extra money to buy environment-friendly products and is concerned about eco-friendliness (Norazah and Norbayah, 2015a). Customers have transmitted their emerging apprehension for nature with the need for green or environment-friendly products. Number of firms are working on the subject and performing hard to protect the environment

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