Analysis of sustainable consumer behavior as a business opportunity

Abstract

The purpose of this paper is to analyze how consumers incorporate sustainability issues into their buying behavior. This paper applies the Self-Organizing Map method to a sample of 223 consumers who answered a questionnaire based on their current behavior rather than the way they thought they ought to behave. The results of this study indicate that consumers incorporate the dimensions of sustainability, acting in a more socially responsible manner, when they have a perception of the effectiveness of their buying behavior. The identified segments can help firms develop sustainability strategies to align their sustainable strategic goals with the needs and behavior of consumers, thereby targeting potential socially responsible customers more effectively. The main conclusion is that the manufacturers should increase transparency regarding the product manufacturing and distribution processes and include the product traceability information on the label or through some other medium.