Sustainable Products: Enjoyment Boosts Willingness To Pay
A University of Eastern Finland study finds that consumers are more willing to pay a premium for sustainable products when they also perceive them as enjoyable and appealing, with implications for companies' marketing strategies
A recent study conducted at the University of Eastern Finland has found that consumers are more willing to pay for sustainable products if they also perceive them as enjoyable and appealing. The study examined how consumers' sustainable consumption values, hedonic attitudes emphasizing enjoyment and utilitarian attitudes emphasizing practical benefits affect their willingness to pay more for sustainable products.
The research found that consumers who value sustainable consumption are more willing to pay a premium for sustainable products, particularly when a product offers positive emotional and user experiences. This suggests that enjoyment plays a key role in translating sustainability values into actual consumption behavior.
However, a utilitarian attitude has the opposite effect on willingness to pay. When a product is assessed in terms of price, functionality, efficiency or economic benefits, sustainability values are less likely to translate into willingness to pay a premium. This finding helps explain the value-behavior gap, where consumers may consider sustainability important but decide not to buy a product if its price, practicality or perceived benefits fail to meet their expectations.
The study also found that environmental friendliness alone does not guarantee willingness to pay for a sustainable product. A sustainable product must also serve its intended purpose and appeal to consumers, with environmental claims and the product's functional and experiential attributes reinforcing one another.
The research comprised three studies published in Forest Policy and Economics, examining the associations between sustainability values, enjoyment, and willingness to pay at different points in time and across different products. The study's findings have implications for companies' marketing strategies, suggesting that they should consider sustainability as part of a product's overall value and ensure that environmental claims are genuine and consistent with the product's attributes.
## Why it matters The study's findings are significant because they highlight the importance of considering sustainability as part of a product's overall value. Companies should ensure that environmental claims are genuine and consistent with the product's attributes, rather than relying on greenwashing or misleading marketing tactics. By doing so, companies can increase consumer willingness to pay for sustainable products and promote more environmentally friendly consumption behaviors.
The study was conducted by doctoral researcher Jyri Hoffrén of the University of Eastern Finland, who notes that companies should consider sustainability as part of a product's overall value. As consumers become increasingly environmentally conscious, companies that prioritize sustainability and genuine environmental claims are likely to see increased willingness to pay and customer loyalty.
