A strategic model for attracting and retaining environmentally conscious customers in E-retail
Abstract
• Examines environmental concerns tied to e-retail. • Utilizes an exploratory sequential design with mixed methods. • Explores links among sustainability practices and consumer engagement. • Employs SEM and CFA for thorough data analysis. • Proposes a framework to attract eco-conscious customers. The study offers a thorough investigation on the strategies necessary to attract and retain environmentally conscious customers in the E-Retail market in Southeast Asia. Structural Equation Modeling (SEM) and Confirmatory Factor Analysis (CFA) have been deployed to analyze the intricate relationships among the sustainable business practices, consumer engagement strategies, technological interventions for sustainability, integration of a triple bottom line approach, and the balance between sustainability and profitability. Hypotheses testing on the empirical data have revealed that there is no significant relationship between sustainable business practices and attracting and retaining environmentally conscious customers. However, there are positive correlations between consumer engagement strategies, technological interventions for Sustainability, and the integration of triple bottom line approach with client attraction and retention. The work highlights the importance of a thorough sustainability plan, in-line with consumer expectations. Practical consequences emphasize the importance of tailoring marketing efforts, ensuring effective communication, and implementing technological advancements to improve the eco-friendly shopping experience. Difficulty in establishing a balance between sustainability and profitability have been highlighted as a prominent challenge for the e-retailers.