Consumer Willingness to Pay More for Sustainable Luxury Jewelry: Effects of Value Perceptions and the Moderating Impact of Pro-Environmental Self-Identity

Abstract

Integrating sustainability into luxury products poses fundamental challenges when brands introduce alternative materials made from recycled content that lack the intrinsic value of precious metals. This study investigates consumer perceptions and willingness to pay more for luxury jewelry made from alternative recycled materials among 357 consumers in the Bangkok Metropolitan Region. The conceptual framework examined five value dimensions (self-expression value, aesthetic value, social value, perceived natural rarity, and perceived sustainability) with pro-environmental self-identity as a moderating variable. The model explains 59.2% of the variance in willingness to pay more. Results confirm significant effects of all five dimensions, with aesthetic value as the strongest predictor. Pro-environmental self-identity significantly moderates the relationship between perceived sustainability and willingness to pay more. Despite high levels of sustainability awareness, the results reveal an attitude–behavior gap: environmental concern does not automatically translate into greater spending on sustainable luxury jewelry. This research contributes to the literature on sustainable luxury consumption by clarifying the relative importance of value dimensions and highlighting the conditional role of consumer identity in shaping the acceptance of price premiums.