Access Over Ownership – Trust and Sustainability in Evolving Consumer Preferences
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Date
2024-10-10
Journal Title
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Publisher
Chitkara University Publications
Abstract
Background: The sharing economy (SE) has transformed traditional consumption patterns, emphasizing access over ownership. Digital platforms have expanded the scope of sharing beyond close social circles, creating an ecosystem where trust and sustainability play a crucial role. While prior research has explored the economic and technological drivers of the SE, there is a growing need to understand the psychological mechanisms influencing consumer participation. Self-Determination Theory (SDT) and the Mindset Theory of Action Phases (MAP) offer insights into the motivational and cognitive factors driving individuals toward shared consumption.
Purpose: This study examines the interplay between trust, sustainability, and consumer attitudes toward the sharing economy, exploring how intrinsic and extrinsic motivations shape participation. Specifically, it investigates how psychological needs and mindset shifts influence engagement in SE platforms and whether sustainability concerns act as a moderating factor.
Methods: A quantitative research design used structural equation modeling (SEM) to analyze survey data from respondents. The study develops and tests a conceptual framework linking trust, sustainability, and consumer motivation, incorporating latent constructs derived from SDT and MAP.
Results: Preliminary findings indicate that trust significantly mediates consumer willingness to participate in SE platforms. Sustainability considerations also enhance participation, particularly among consumers with strong intrinsic motivation. The results further suggest that individuals with a deliberative mindset are more likely to engage in SE when sustainability benefits are evident, while those with an implemental mindset focus more on trust and economic incentives.
Conclusion: This study contributes to the growing discourse on consumer psychology in the sharing economy by integrating motivation theories with sustainability and trust factors. The findings have practical implications for platform designers and policymakers seeking to foster greater participation in SE models.
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Keywords
Sustainability, Consumer preferences, Ownership, Digital platforms