Home⇛Business Research Journal⇛vol. 8 no. 1 (2022)

The Willingness to Pay and Purchase Eco-Friendly Products among Post-Millennial Residents of Malabon City

Garnet T Torres

 

Abstract:

The environment has been under a state of constant degradation, with single-use plastics being a common pollutant with the Philippines alone, the country produces 163 million for just sachets with no strict restrictions on responsible waste management local businesses and individuals are voluntarily doing their share to reduce the use of single-use items. This study aims to determine the different levels of willingness to purchase and pay for eco-friendly products among post-millennial consumers of Malabon City which is a flood-prone area, as well as determining a significant difference when the profile is considered. Based on a review of the literature, youth respondents from developing countries were much more receptive and aware of their environmental impact and were willing to purchase eco-friendly products in order to reduce their carbon footprint as long as the alternative is priced lower. Analysis of the responses demonstrated that there was no significant difference when the profile of the respondents were considered. The results indicate that post-millennial consumers from Malabon City are environmentally concerned and strongly agree that it is a social responsibility to conserve the environment, overall, the respondents' willingness to pay is subjected to eco-friendly products' affordability and accessibility respectively.



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