Factors Influencing the Purchase Intention for Recycled Products: Integrating Perceived Risk into Value-Belief-Norm Theory

Recycling used materials is one way to deal with the depletion of natural resources available on earth. Companies increasingly integrate recycled materials into their production processes and transition towards circular business models. However, although the attitude towards sustainable products is positive, consumers still prefer to buy products made from new instead of recycled materials. Empirical research on factors influencing the purchase intention of recycled products is still limited. This study aims to examine consumers' individual factors that are important in the decision process to buy recycled products. The Value-Belief-Norm (VBN) theory is explored in the context of recycled product purchase intention. Perceived risk is added to the research model as a moderator that hinders purchase intention. The different influences are analyzed using partial least squares structural equation modelling with a sample of 177 respondents from Germany. Results indicate that the causal chain of relationships between values, beliefs, and personal norm has a positive influence on recycled product purchase intention. Perceived risk, on the other hand, has a significant negative direct effect on purchase intention but strengthens the relationship between personal norms and purchase intention. Theoretical and managerial implications as well as avenues for further research are discussed.