Consumer Perceptions of Sustainable Products: A Systematic Literature Review

Due to the growing concern towards natural resource depletion and the increasing levels of waste generation caused by economic growth, sustainable consumption has gained the attention of both governments and society. Despite this, the market share of sustainable products remains low, and studies analysing the factors influencing consumers' perception of sustainable products provide inconclusive results. This work aims to help bridge this gap by summarising the main literature results and focusing on practical implications. We perform a systematic literature review to identify the factors influencing consumers' perception of sustainable products. Next, we classify these factors according to the triple bottom line framework, to provide a holistic perspective on the subject and present useful suggestions for companies. The findings suggest that most studies adopt a partial perspective on sustainability, focusing on only one of the sustainability dimensions or considering a single product category. The results also show that there are numerous factors that can influence consumer perception across all three sustainability dimensions. To increase the market share of sustainable products, companies should try and target new customer segments, by adopting a holistic approach to sustainability and analysing how consumers manage the trade-offs between the factors related to different sustainability dimensions. From a practical perspective, this study provides managers with a solid starting point to identify and assess the value of sustainable products in relation to the sustainability dimensions and the characteristics of the target customer segments.