How Economic Factors Influence Sustainable Consumer Choices

What is it about?

This research investigates the relationship between economic factors and sustainable consumption behavior using a positivist approach that involves quantitative surveys and analysis. It explores how economic considerations such as prices, expectations, and broader economic conditions influence individuals' adoption of sustainable practices. The study contributes to existing knowledge by identifying economic levers that promote or hinder sustainable consumption, such as taste and preferences, societal behavior, and the availability of alternatives. The research emphasizes the importance of understanding these economic influences to inform policymakers, businesses, and consumers in developing effective interventions and initiatives. The literature review highlights various factors affecting sustainable consumption behavior, yet underscores a gap in research focusing on economic perspective studys. As a result, the study sets objectives to identify and analyze economic factors impacting sustainable consumption behavior, aiming to facilitate environmentally responsible consumption practices.

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Photo by Joshua Rawson-Harris on Unsplash

Photo by Joshua Rawson-Harris on Unsplash

Why is it important?

This study is significant as it delves into the complex relationship between economic factors and sustainable consumption behaviour, offering a detailed analysis of how these considerations influence individuals' environmental responsibilities. By integrating established theories of consumer behaviour and sustainability with empirical data, the research provides a comprehensive understanding of the economic dynamics that promote or hinder sustainable consumption. This understanding is crucial for informing policymakers, businesses, and consumers to develop strategies that align economic and ecological objectives. Key Takeaways: 1. The study investigates how economic factors such as prices and expectations influence the adoption of sustainable practices, providing insights into the levers that drive or impede sustainable consumption. 2. It identifies and analyzes various economic factors, including taste, preferences, and the availability of alternatives, highlighting the nuanced effects these factors have on consumer behaviour. 3. The research contributes to the existing body of knowledge by bridging the gap in understanding sustainable consumption from an economic perspective study, thereby facilitating targeted interventions that support the 12th Sustainable Development Goal of responsible consumption and production.