Factors affecting green consumer behavior of young consumers

Abstract

The purpose of the article is to attempt to examine the factors affecting the green consumption behavior of young consumers by surveying more than 380 young consumers under the age of 35 in Vietnam. The methods of analysis, comparison, and synthesis combined with quantitative research methods (Exploratory Factor Analysis - EFA, Linear Regression Analysis) are used to determine and quantify the impact of factors on the green consumption behavior of young people. The research results show that there are 4 factors affecting the green consumption behavior of young people, consisting of (1) health concerns of consumers, (2) green product prices, (3) crowd effects on young consumer's consumption behavior, (4) environmental awareness of consumers. The new finding of the study is that the product's price has a positive impact on the green consumption behavior of young consumers, in other words, the higher the price of green products, the stronger the effect of motivating young consumers to buy more. From the obtained results, implications for businesses as well as policy implications for state agencies are proposed to promote and enhance green consumption behavior among young people, towards the goal of better environmental protection.