AbstractWater, which plays an important role in human life, has been depleted as a result of changing consumption patterns, climate change and increasing population, and water scarcity has emerged as one of the most pressing issues facing the world in the coming years. One solution to this problem is to make more efficient and sustainable use of existing water resources. In this context, the study aims to investigate the effects of consumers' environmental and economic concerns on sustainable water consumption behaviour, as well as the mediating role of water‐saving behaviour in these effects. For this purpose, it was discovered that environmental and economic concerns have positive effects on sustainable water consumption behaviour as a result of an analysis of data collected from 591 consumers in Turkey via the online survey method; it was determined that environmental concerns have no effect on water‐saving behaviour, whereas economic concerns have a positive effect on water‐saving behaviour. According to the findings of the mediation analysis, water‐saving behaviour only serves to mediate the effect of economic concerns on sustainable water consumption behaviour.