Residential Environmental Protection Commodity Consumption Model and Trend Forecast Based on Consumer Preference

Xiaheng Zhang, Lin Xiao and Guichao Jin ()
Additional contact information
Xiaheng Zhang: School of Management, Northwest University of Political Science and Law, Xi’an 710122, China
Lin Xiao: School of Management, Northwest University of Political Science and Law, Xi’an 710122, China
Guichao Jin: School of Economic Management, Hangzhou Normal University Qianjiang College, Hangzhou 310018, China

Sustainability, 2023, vol. 15, issue 14, 1-19

Abstract: With the development of the social economy, people’s living standards continue to improve, and the consumer demand for environmentally friendly products also increases. At the same time, many businesses have an inaccurate grasp of consumers’ consumption concept of environmentally friendly products, and there are many problems of imbalance between supply and demand. In order to improve consumers’ consumption concepts of environmentally friendly goods and maintain a balance between supply and demand in the market for environmentally friendly goods, this article takes energy-saving appliances as an example to analyze their product consumption models and trend predictions. Based on quantifying changes in residents’ consumption, two consumption models are proposed to address consumption concepts and supply and demand issues and to analyze residents’ consumption of environmentally friendly goods. The conjoint analysis method is to score and sort the products according to the willingness of consumers to a certain product, and finally analyze consumers’ preference for environmentally friendly products according to consumption behavior. The article divides the discrete choice model into four small models. Different analyses are carried out according to the consumption in different states, and from the perspective of consumers, the consumption preferences of consumers when purchasing commodities are analyzed to determine the main factors that affect consumers’ purchase of environmentally friendly commodities. In the experimental part of the article, two consumption models are used to analyze consumers’ consumption preference for environmental protection products, the prediction accuracy of consumption preference, and consumption desire. The experimental results found that consumers of different age groups have increased their desire to purchase environmentally friendly products under the stimulation of the consumption model. Under the stimulation of the discrete choice model, the consumption of residents under the age of 18 increased by 23% compared with the original. Compared with the conjoint analysis method, the discrete choice model is 12% more effective in stimulating consumption desire, and the stimulation effect is better.

Keywords: consumer preferences; joint analysis method; discrete selection model; consumption of environmental protection commodities (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/15/14/10969/pdf (application/pdf)
https://www.mdpi.com/2071-1050/15/14/10969/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:15:y:2023:i:14:p:10969-:d:1192984

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().