Consumer Awareness and Willingness to Pay for Eco-Labeled Products: Evidence from Slovakia

Purpose: This study investigates the awareness and understanding of eco-labels among Slovak consumers, alongside their willingness to pay a premium for environmentally friendly products. Methodology/Approach: For this study, a custom questionnaire was designed. The survey was conducted online using Google Forms from December 2020 to the end of February 2021, The collected data were analyzed using descriptive statistics and the Mann-Whitney U test to test differences among respondent groups. Findings: Results reveal that only a minority of respondents correctly understand the meaning of the analyzed eco-labels, with higher awareness for labels associated with direct economic benefits, such as energy savings. Statistical analysis highlights significant differences in awareness and willingness to pay based on age and income. Most respondents express a preference for receiving eco-label information through in-store displays and banners. Research Limitation/Implication: Sample is restricted to limited size and structure that was reachable during COVID-19 pandemic. Originality/Value of paper: There are few studies that examine eco-labeling of products in relation to demographic data of respondents, but to our knowledge none from Slovakia. In addition, this study uniquely includes identifying respondents' preferences when obtaining information about eco-labels on products.