What premium are young Indians willing to pay for sustainable skincare products

Abstract

This research investigates the average premium young Indians are willing to pay for sustainable skincare products and the demographic factors that have an impact on this premium. The study uses a quantitative survey approach, using dichotomous choice testing. Regression tests and confirmation mean comparison tests are done to check the statistical significance of the proposed hypotheses. The results show that willingness to pay higher premiums is driven by income and age but gender plays no significant role. The findings have practical implications for companies as they can tailor pricing decisions better to meet the demands of this specific consumer segment.