The readiness of customers to adopt green spending in Vietnamese commercial banks: Empirical evidence from an emerging economy

Abstract

Purpose: This study aims to identify and analyze the key factors that influence customers’ readiness to adopt green spending in Vietnamese commercial banks. Design/methodology/approach: This research applies a quantitative research methodology to evaluate the factors influencing the readiness of customers to adopt green spending in Vietnamese commercial banks. A proposed model was developed based on established frameworks such as the Theory of Planned Behavior (TPB) and the Willingness to Pay (WTP) model. Data were collected through an online survey administered to 496 respondents, selected using purposive sampling. Respondents were individuals with experience using banking services, ensuring the relevance of the sample. Statistical analyses were conducted via SmartPLS 4.0 software, with T-test and One-way ANOVA applied through SPSS 29.0. Findings: The study identified four key factors influencing customers’ willingness to adopt green spending at Vietnamese commercial banks: Preference for green savings, Trendiness, Using banking service and green marketing. Of these, green place has the strongest influence, suggesting that effective communication and strong green branding can drive consumer engagement. Meanwhile, Trendiness showed no significant effect on the decision to engage with green spending. Limitations: This study is limited by its focus on Vietnamese commercial banks, which may not fully reflect the broader trends in green spending across other countries. Additionally, the research primarily relies on self-reported data, which can be influenced by social desirability bias or inaccurate perceptions of consumer behaviors. The data was collected over a relatively short period, which may not capture longer-term trends. Originality/value: The result provides a comprehensive overview of the factors influencing the adoption of green spending in Vietnamese commercial banks, highlighting consumer preferences, market trends, and unmet demand. These insights help banks develop tailored green products and effective marketing strategies. Additionally, the research raises consumer awareness of green financial services, empowering informed decisions and fostering sustainable banking practices