Factors Affecting Adopters’ Decisions in Products or Services from Circular Business Model

Abstract

This research aimed to study and analyze the acceptance behavior of products and services aligned with the circular economy model among individuals aged 18 and over who can make their own purchasing decisions and reside in Bangkok and its metropolitan area. The total sample consisted of 456 participants, with data collected via questionnaires. The results showed that the majority of respondents accepted products designed for sustainability, 100% recyclable, or easily reusable (81.4%), while products involving the upcycling process had the lowest acceptance rate (33.3%). The key barriers preventing consumers from choosing or using products and services in line with the circular economy model were the "lack of clear information" reflecting the differences in products (54.2%) and unclear information regarding sustainability (52.9%), more so than the higher price (39%). The most influential factors driving the acceptance of circular economy-aligned products or services were product characteristics, brand credibility and clear communication, and accessibility or convenience in using the products or services. The price or perceived value was considered the least significant factor influencing acceptance of circular economy-related products or services.