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Willingness to pay for eco-friendly furniture based on demographic factors
- Shahsavar, Tina, Kubeš, Vladimír, Baran, Dušan
- Journal of cleaner production 2020 v.250 pp. 119466
- consumer behavior, demographic statistics, education, furniture, gender, income, marital status, multivariate analysis, ownership, purchasing, surveys, willingness to pay, youth, Czech Republic
- This research aims to take a step in measuring the strength of socio demographics to predict consumers’ behavior in purchasing eco-friendly furniture. This paper explores the influence of demographic factors such as age, gender, flat ownership, marital status and education on willingness to pay more for such products. A survey was conducted to collect quantitative data from a furniture store placed in capital city of Czech Republic, Prague. The study sample contains not very young people with an income of above average among Czech Republic population. This research could be of an assist for marketers to segment and target consumers who have a tendency towards sustainability. A multivariate analysis approach by using SPSS is applied to analyze the data and results reveal significant influence of age and marital status on willingness to whether or not pay more for eco-friendly furniture in Prague. It shows that demographic factors play a role in purchasing behavior. It provides the inspirations for the management to develop and plan a profile of consumers based on demographics who are willing to buy eco-friendly furniture for specific target group. However, the study limitations and contradictions between our result and the previous studies suggest that more research is needed in this context to find more consistent results in consumers’ characteristics in order to profile green consumers globally.