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The influence of values in sustainable consumption among millennials

Author

Listed:
  • Andreas Falke

    (University of Regensburg)

  • Nadine Schröder

    (WU Wien, Vienna University of Economics and Business)

  • Claudia Hofmann

    (R-Tech GmbH)

Abstract

Due to climate change and global warming, sustainable consumption—as one possible solution to these challenges—is becoming more and more relevant. One generation that is affected the most by these developments are the millennials. While more and more baby boomers are retiring, millennials are now transitioning from being in training to being full-time employed, which marks a big change in their lives and makes understanding their values and consumption behaviour more important for marketers. The goal of our study is to clarify which values influence the building of attitude of millennials, if this influence differs according to employment status, and how attitude affects purchase intention concerning sustainable goods. Building to the list of values by Kahle (1983), the theory of planned behaviour, and perceived consumer effectiveness, we construct a framework to understand how values and employment status of millennials interact with their purchasing intention. Our results show that, among others, the values, that play a role during purchase intention forming, differ depending on the employment status. We also find that millennials place high importance on being in control when purchasing sustainable goods. Advertising and product managers can use our results to better understand and target the audience of their products as they construct their marketing efforts with the values of the audience in mind. In particular, messages that comply with the notion of being in control should be considered in every communication channel. This way, they may increase the share of sustainable consumers.

Suggested Citation

  • Andreas Falke & Nadine Schröder & Claudia Hofmann, 2022. "The influence of values in sustainable consumption among millennials," Journal of Business Economics, Springer, vol. 92(6), pages 899-928, August.
  • Handle: RePEc:spr:jbecon:v:92:y:2022:i:6:d:10.1007_s11573-021-01072-7
    DOI: 10.1007/s11573-021-01072-7
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    References listed on IDEAS

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    Cited by:

    1. Wolfgang Breuer & Jannis Bischof & Christian Hofmann & Jochen Hundsdoerfer & Hans-Ulrich Küpper & Marko Sarstedt & Philipp Schreck & Tim Weitzel & Peter Witt, 2023. "Recent developments in Business Economics," Journal of Business Economics, Springer, vol. 93(6), pages 989-1013, August.
    2. Nick Lin-Hi & Marlene Reimer & Katharina Schäfer & Johanna Böttcher, 2023. "Consumer acceptance of cultured meat: an empirical analysis of the role of organizational factors," Journal of Business Economics, Springer, vol. 93(4), pages 707-746, May.
    3. Umut Ünal & Rıfgı Buğra Bağcı & Mertcan Taşçıoğlu, 2024. "The perfect combination to win the competition: Bringing sustainability and customer experience together," Business Strategy and the Environment, Wiley Blackwell, vol. 33(5), pages 4806-4824, July.
    4. Yavisha Ramnarain & Krishna K. Govender & Sanjay Soni, 2024. "Exploring Millennial Consumers’ Behaviour in Social Commerce," International Review of Management and Marketing, Econjournals, vol. 14(4), pages 122-131, July.

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    More about this item

    Keywords

    Sustainable consumption; List of values; Millennials; Theory of planned behaviour;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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