Problemi Ekonomiki (Aug 2023)
Sustainability and Its Impact on Buying Behavior: The Emerging Trends and Opportunities for Companies
Abstract
In contemporary society, concerns about sustainability and environmental impact are becoming increasingly relevant, amid climate change and ecosystem degradation. In a global context of significant environmental transformations and increased awareness of the need for collective action, the conceptions of sustainability and ecological responsibility are becoming central to individual decision-making, especially in purchasing behavior. Sustainable development and sustainability have gained significant importance in recent decades, reflecting awareness of human impact on the environment and the need for a viable future for future generations. However, the precise definition of these terms is often ambiguous, due to the complexity and interconnections between the economic, social, and ecological aspects of human development. In this context, the paper aims to analyze the two concepts, clarifying the differences between them. Also, the work aims to analyze the behavior of consumers regarding sustainability and ecological products, as well as underlines the opportunities that companies could capitalize on in this regard for the development of more sustainable businesses, according to market requirements. The methodology is based on the survey method, methods of analysis and synthesis, data interpretation, and relevant comparisons. The research results highlight the increased interest of consumers in the sustainability and ethics of companies, highlighting changes in purchasing behavior oriented towards ecological products and responsible practices in environmental protection. For companies, these results represent various opportunities to adapt their strategies and communicate their commitment to sustainability more effectively to meet consumer demand and differentiate themselves in the market.
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