Determinants for sustainable consumer behavior in retail banking

Abstract

This study develops a conceptual model of determinants for sustainable consumer behavior, with the purpose of testing their empirical relevance. The model includes geographical antecedents which are in direct relationship with these determinants. The results show that relative price and green product impact are the most important determinants for sustainable consumption behavior, while social acceptability is less important. Furthermore, gender is a critical antecedent which influences the relative relevance of determinants. The ongoing shift towards sustainability requires retail banks to adjust their portfolio of products and services accordingly. However, retail banks face a lack of awareness for their sustainable initiatives.