Ethically minded consumer behavior of young consumers - Personal and social factors
Abstract
Young people have been becoming the driving force behind any economic development due to their large proportion in Vietnam population structure. They are also possessing a major purchasing power, being the main market segment of currently burgeoning businesses. While ethical issues associated with consumerism have been a topic of discussion in the society, young consumers have stepped up to the plate by showing a positive support for being ethical consumers. It is still unclear, however, whether they are willing to actualize their perspective, as the alleged attitude – behavior gap is still commonplace. This research attempted to examine the influence of socialization agents and environmental concern on the ethically minded consumer behavior (EMCB) of young consumers by drawing on the socialization framework. With a sampling of 230 young consumers based in Ho Chi Minh City, results demonstrate that intimate relationships have significant impact on young consumers’ behavior towards dimensions of EMCB. In particular, family and peers exert substantial effect on young consumers’ tendency to pay more for an ethical product as well as to purchase eco – friendly goods. Social media, on the contrary, is not a significant determinant.
Key words: Ethically Minded Consumer Behavior, Socialization Agents, Environmental Concern, Young Consumers.