The impact of greenwashing and green perceived value on young people's intention to purchase Innisfree green cosmetics in Ho Chi Minh City: Through Intermediate Factors Green Brand Attitude, Green Brand Image, Green Brand Equity, Green Word of Mouth

Abstract

Under the devastating impact, severely affecting the ecosystem, human awareness of environmental issues has been on the rise. Recognizing the concerns and interests of consumers, businesses have capitalized on this sentiment, giving rise to the concept of "green marketing" as a competitive weapon to attract customers. It has become a crucial tool for companies to gain a competitive advantage and build a sustainable brand image. However, when green marketing is not aligned with genuine actions, consumers often perceive it as greenwashing. This study aims to explore the impacts of greenwashing and green perceived value through intermediate variables like Green brand equity, Green brand image, Green WOM, and Green brand attitude to determine their influence on Green purchase intention. Drawing on the Stimulus–organism–response theory, the theory of planned behavior, and the Attitude-Behavior-Context theory, we aim to explain the intention of green shopping behavior. Additionally, we incorporate legitimacy theory to assess the level of acceptance from the community and society. Data were collected from 350 survey respondents, predominantly young individuals residing in Ho Chi Minh City, using a convenient non-probability sampling method through representative social media channels. The research results were validated using SPSS and Smart PLS 4 software. The findings indicate that greenwashing negatively impacts Green brand image, Green brand equity, and Green WOM but does not negatively affect Green Purchase Intention. Furthermore, the study does not find a significant impact from Green WOM to Green purchase intention. Consequently, the managerial implications suggest that marketing strategies must be honest and transparent, providing information on origin and production processes to gain the trust from consumers. Additionally, organizing green activities is essential to contribute to spreading an environmentally friendly lifestyle and proving the green marketing strategies that the business aims to achieve.