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The impact of economic interests on eco-consumption: the case of the Russian Arctic Zone of Karelia

Author

Listed:
  • Valentina Karginova-Gubinova

    (Institute of Economics of the Russian Academy of Sciences, Russian Federation)

  • Alexander Volkov

    (Institute of Economics of the Russian Academy of Sciences, Russian Federation)

  • Sergey Tishkov

    (Institute of Economics of the Russian Academy of Sciences, Russian Federation)

  • Anton Shcherbak

    (Institute of Economics of the Russian Academy of Sciences, Russian Federation)

Abstract

The transition to the use of eco-products is one of the directions for ensuring the sustainable economic development and security of territories. This makes it relevant to study the influence of various factors on environmentally responsible consumer behavior. The goal of this article was to determine the importance of economic interests in the system of factors that determine consumer behavior in relation to eco-friendly products. The results of a survey of 1102 residents of the Arctic zone of the Republic of Karelia (Russian Federation) served as the research data. The work was structured within the framework of the reasoned action approach and Maslow's theory, using the methods of descriptive statistics and confirmatory factor analysis. It was found that economic interests are one of the factors that determine consumption behavior; however, the significance of economic interests is less than that of ecological interests. The willingness to pay an increased price for renewable electric energy shows that economic interests mostly control the environmental consumption behavior of those with a low level of education, low living standards, and short-term budget planning (regardless of gender and age). Taking into account the identified connections, we propose tools to stimulate the purchase of environmental products. The study findings are of interest to authorities in order to popularize and distribute eco-friendly products, as well as their manufacturers to choose the best strategy for promoting the products to the market.

Suggested Citation

  • Valentina Karginova-Gubinova & Alexander Volkov & Sergey Tishkov & Anton Shcherbak, 2021. "The impact of economic interests on eco-consumption: the case of the Russian Arctic Zone of Karelia," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(4), pages 68-84, June.
    • Handle: RePEc:ssi:jouesi:v:8:y:2021:i:4:p:68-84
    DOI: 10.9770/jesi.2021.8.4(4)
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    References listed on IDEAS

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    1. Beibei Yue & Guanghua Sheng & Shengxiang She & Jiaqi Xu, 2020. "Impact of Consumer Environmental Responsibility on Green Consumption Behavior in China: The Role of Environmental Concern and Price Sensitivity," Sustainability, MDPI, vol. 12(5), pages 1-16, March.
    2. Wheeler, Meagan & Sharp, Anne & Nenycz-Thiel, Magda, 2013. "The effect of ‘green’ messages on brand purchase and brand rejection," Australasian marketing journal, Elsevier, vol. 21(2), pages 105-110.
    3. Gilg, Andrew & Barr, Stewart, 2006. "Behavioural attitudes towards water saving? Evidence from a study of environmental actions," Ecological Economics, Elsevier, vol. 57(3), pages 400-414, May.
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    Cited by:

    1. Edoardo Beretta & Giulia Miniero & Francesco Ricotta, 2021. "Consumers’ Journey between Liquid and Solid Consumption," Sustainability, MDPI, vol. 13(24), pages 1-20, December.

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    More about this item

    Keywords

    eco-friendly products; purchase of eco-friendly products; ecological consumer behaviour; renewable energy; willingness to pay; the importance of the price of a product; behavioral beliefs; economic characteristics of an individual; sustainable development; environmental and economic safety;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • P18 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Energy; Environment
    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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