Sustainable Consumption Behavior among Educated Generation Z: The Roles of Environmental Awareness and Perceived Financial Literacy
DOI:
https://doi.org/10.55737/trt/v-v.266Keywords:
Sustainable Consumption Behavior, Generation Z (University Students), Environmental Awareness, Perceived Financial Literacy, Developing EconomyAbstract
It is generally recognized that sustainable consumption is crucial to sustainable economic and environmental health. However, amongst youth consumers there still is a familiar problem: They know about environmental issues but do not necessarily use this information to buy or use products responsibly. The present study focuses on the potential for environmental awareness and perceived financial literacy to successfully predict the sustainable consumption behaviors of a particular group of university students within the larger set of educated Gen Z. A cross-sectional design was employed in the survey of 300 undergraduate students from Pakistani universities. By observing our results, we realize that both factors have impacts on sustainable behavior, and the impact of environmental awareness is more noticeable (β = 0.563) than the impact of perceived financial literacy (β = 0.327). Together, the two predictors explain a large amount of the variance (R2 = .551). This indicates that when it comes to motivation to buy ecologically, knowledge about ecology and sustainability is often the main factor, while perceived financial awareness is not necessarily a determining factor, but rather can facilitate and enable it.
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