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Residential Environmental Protection Commodity Consumption Model and Trend Forecast Based on Consumer Preference

Author

Listed:
  • Xiaheng Zhang

    (School of Management, Northwest University of Political Science and Law, Xi’an 710122, China)

  • Lin Xiao

    (School of Management, Northwest University of Political Science and Law, Xi’an 710122, China)

  • Guichao Jin

    (School of Economic Management, Hangzhou Normal University Qianjiang College, Hangzhou 310018, China)

Abstract

With the development of the social economy, people’s living standards continue to improve, and the consumer demand for environmentally friendly products also increases. At the same time, many businesses have an inaccurate grasp of consumers’ consumption concept of environmentally friendly products, and there are many problems of imbalance between supply and demand. In order to improve consumers’ consumption concepts of environmentally friendly goods and maintain a balance between supply and demand in the market for environmentally friendly goods, this article takes energy-saving appliances as an example to analyze their product consumption models and trend predictions. Based on quantifying changes in residents’ consumption, two consumption models are proposed to address consumption concepts and supply and demand issues and to analyze residents’ consumption of environmentally friendly goods. The conjoint analysis method is to score and sort the products according to the willingness of consumers to a certain product, and finally analyze consumers’ preference for environmentally friendly products according to consumption behavior. The article divides the discrete choice model into four small models. Different analyses are carried out according to the consumption in different states, and from the perspective of consumers, the consumption preferences of consumers when purchasing commodities are analyzed to determine the main factors that affect consumers’ purchase of environmentally friendly commodities. In the experimental part of the article, two consumption models are used to analyze consumers’ consumption preference for environmental protection products, the prediction accuracy of consumption preference, and consumption desire. The experimental results found that consumers of different age groups have increased their desire to purchase environmentally friendly products under the stimulation of the consumption model. Under the stimulation of the discrete choice model, the consumption of residents under the age of 18 increased by 23% compared with the original. Compared with the conjoint analysis method, the discrete choice model is 12% more effective in stimulating consumption desire, and the stimulation effect is better.

Suggested Citation

  • Xiaheng Zhang & Lin Xiao & Guichao Jin, 2023. "Residential Environmental Protection Commodity Consumption Model and Trend Forecast Based on Consumer Preference," Sustainability, MDPI, vol. 15(14), pages 1-19, July.
  • Handle: RePEc:gam:jsusta:v:15:y:2023:i:14:p:10969-:d:1192984
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    References listed on IDEAS

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    1. Sun, Jin & Keh, Hean Tat & Lee, Angela Y., 2019. "Shaping consumer preference using alignable attributes: The roles of regulatory orientation and construal level," International Journal of Research in Marketing, Elsevier, vol. 36(1), pages 151-168.
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    3. Motz, Alessandra, 2021. "Consumer acceptance of the energy transition in Switzerland: The role of attitudes explained through a hybrid discrete choice model," Energy Policy, Elsevier, vol. 151(C).
    4. Bhagyashree Katare & Hyejin Yim & Anne Byrne & H. Holly Wang & Michael Wetzstein, 2023. "Consumer willingness to pay for environmentally sustainable meat and a plant‐based meat substitute," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 45(1), pages 145-163, March.
    Full references (including those not matched with items on IDEAS)

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