Business model innovation for sustainability: An investigation of consumers' willingness to adopt product-service systems

The growing unsustainable economic and consumption systems put an enormous strain on the planet's resources. This has led to environmental concerns on a global level and a realization of the need to develop new sustainable business models. The Circular Business Mod& (CBM) is a response to that need to achieve a more sustainable future. The aim of this study is to investigate consumers' willingness to adopt one promising form of CBM called the Product-Service System (PSS). A PSS is a sustainable business model that aims at lessening the harmful unsustainable effects of consumption. Based on the literature, this study developed a conceptual model consisting of five independent variables; Economic Value, Flexibility, Trust, Desire to Own, Peer Influence, and Consumers' Environmental Awareness as a moderating variable to evaluate the determinants of consumers' willingness to adopt PSS. The primary data was collected through an online survey with 463 usable responses, and the hypotheses were tested using multiple regression analysis in SPSS. The results showed that five of the six hypothesized factors were significant determinants of consumers' willingness to adopt PSS.