Has there been a change in Chinese consumers' willingness to pay for carbon labels?

Promoting carbon labels (CL) is essential for transitioning to low-carbon consumption. Xu and Lin (2022) carried out a questionnaire survey in 2019 to explore the impact of consumer characteristics on willingness to spend. Expanding on this study, the research team conducted a new survey in 2024 and utilized the total sample of 3,788 participants from the two surveys to explore the changes in consumers' WTP for CL over the past five years. Researchers also created pseudo-panel data to analyze the underlying reasons for the changes. The study found that consumers in 2024 displayed more positive perceptions of air quality, low-carbon behavior engagement, and effectiveness of CL compared with 2019. However, awareness of CL did not increase, and the WTP premium for CL actually decreased. Additionally, low-carbon behavior engagement no longer negatively affects WTP, and the positive impact of air quality perception, awareness of CL, and attitudes toward CL are stable. The analysis of the pseudo-panel data indicated that changes in consumer economic status between 2019 and 2024 played a significant role in the decline of WTP. Finally, this study proposes targeted policy recommendations for the further promotion of CL policies based on the findings.