Experimental analysis of consumer behaviour and green business adaptation

¹ State University of Trade and Economics, Department of Financial Analysis and Audit, 19, Kyoto str., 02156, Kyiv, Ukraine
² Interregional Academy of Personnel Management, Frometivska str., 2, 03039, Kyiv, Ukraine

^* Corresponding author: marijka@ukr.net

Abstract

The impact of climate change is becoming increasingly clear, with consumers moving towards greener lifestyles and expecting companies to make a positive impact through their operations and overall brand image. The purpose of the article is to study the influence of consumer preferences on the sustainable development of society. Each type of consumer has different priorities regarding other sustainability issues. Knowing customers is critical to running a successful business. For baby boomers and Gen Xers, environmental legacy – what kind of planet they will leave to their children and grandchildren – is very important. The desire to be thrifty increases with age. Millennials and Gen Z have been found to make purchasing decisions based on values and personal principles. The impact of climate change is becoming more apparent; consumers are moving towards greener lifestyles and expect companies also to make a positive impact on their operations and overall brand image. Understanding how consumers think and act about sustainability is vital for companies to function effectively. It was found that all consumer types are concerned about climate change. However, each consumer type has different priorities regarding other sustainability issues.