The Influence of Well-Being on Consumers’ Future Discounting Practices in the South African White Goods Industry: An Abstract

Abstract

This study explores the distinctive South African marketplace in focusing on satisfaction of life (SOL), social well-being (SWB) and environmental well-being (EWB) as determinants of consumers’ willingness to forego immediate gratification and consider the long-term implications of their prepurchase evaluation and selection of major household appliances. Household appliances (collectively referred to as “white goods”) impact on the use of natural resources from the initial production throughout the entire lifespan of the product. In recent years, the local white goods industry has shown substantial growth as more households attain economic well-being and converge into an aspiring middle-class segment. As an emerging economy, South Africa is distinguished by economic growth potential, increasing consumption and an ecological footprint that matches high income industrialized countries. Yet, it also differs from more developed nations in terms of extreme levels of income inequality and diverse living standards, which provide impetus for the pursuit of well-being among local consumer populations. It is postulated that consumers who have attained economic well-being, affluence and SOL with high levels SWB (i.e. an appraisal of circumstances and functioning in society) and EWB (i.e. a lifestyle that reveres environmental harmony) will be less likely to engage in future discounting practices (FDP) whereby they prioritize more immediate concerns such as cost of the appliance as opposed to features such as energy consumption that has long-term consequences for the environment, larger population and future generations.