VALIDATING PURCHASE INTENTIONS FOR GREEN COSMETIC PRODUCTS: APPLYING AND EXTENDINTHEORY OF PLANNED BEHAVIOR

Abstract

In the last few years, consumers in the Asian market have become conscious of green products and their impact on environmental welfare. Millennial consumers specifically, have started preferring environment friendly, socially responsible products and have come to be known as quick spenders tending the hedonistic consumption. The key intention of this research is to ascertain the variables that have an impact on the purchasing intentions which thereby affects the willingness of millennial buyers to pay a premium for eco-friendly and organic cosmetics in India by expanding the Theory of Planned Behavior by providing a structural equation model (SEM) and path analysis. Results of the study show that the subjective norms are an essential element affecting the environmental concerns and the attitudes of individuals towards green cosmetics which in turn, influence customers intention of purchasing these products and their willingness in paying a premium The research concludes that, with the presence of subjective norms to impose environment-friendly behavior and the correct attitude of individuals towards green cosmetics, the purchase intention and willingness of the millennial buyers to pay a premium for eco-friendly cosmetic products high.