THE WILLINGNESS TO PAY FOR ECO-FRIENDLY PRODUCTS: INSIGHTS FROM CONSUMERS IN VIETNAM
DOI:
https://doi.org/10.54783/6y0mn449Keywords:
Willingness to pay, environmentally friendly products, social influence and community norms, sustainable development attitudes, young Vietnamese consumersAbstract
This study analyzes the factors influencing the Willingness to Pay (WTP) for environmentally friendly products among young Vietnamese consumers based on 74 valid observations. The data were processed using STATA through reliability testing, Exploratory Factor Analysis (EFA), and linear regression modeling. The results indicate that the WTP measurement scale demonstrates very high reliability (Cronbach’s Alpha
= 0.9323), and five factors extracted from the EFA explain 79.02% of the variance. However, only two factors show statistical significance in the regression model. Social Influence and Community Norms exhibit the strongest impact on WTP (β = 0.430; p < 0.01), highlighting the prominent role of family, peers, and social environment in green purchasing decisions. In addition, Attitudes toward Sustainable Development positively affect WTP (β = 0.296; p < 0.05). Other factors, such as Environmental Awareness, Perceived Quality–Safety, and Financial Capacity, do not show statistical significance. Qualitative findings further reinforce that trust, authenticity, health benefits, and transparent communication are key drivers promoting willingness to pay. The study contributes empirical evidence to the Vietnamese market, emphasizing the importance of social norms and sustainable values in shaping WTP.
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