IDEAS home Printed from https://ideas.repec.org/a/eee/joreco/v67y2022ics0969698922000625.html
   My bibliography  Save this article

Who will adopt electric vehicles? Segmenting and exemplifying potential buyer heterogeneity and forthcoming research

Author

Listed:
  • Jaiswal, Deepak
  • Deshmukh, Arun Kumar
  • Thaichon, Park

Abstract

Market segmentation becomes a crucial tool for evolving transportation technology such as electric vehicles (EVs) in emerging markets to explore and implement for extensive adoption. EVs adoption is expected to grow phenomenally in near future as low emission and low operating cost vehicle, and thus, it drives a considerable amount of forthcoming academic research curiosity. The main aim of this study is to explore and identify distinct sets of potential buyer segments for EVs based on psychographic, behavioral, and socio-economic characterization by employing an integrated research framework of ‘perceived benefits-attitude-intention’, The study applied robust analytical procedures including cluster analysis, multiple discriminant analysis and Chi-square test to operationalize and validate segments from the data collected of 563 respondents using a cross-sectional online survey. The findings posit that the three distinct sets of young consumer groups have been identified and labelled as ‘Conservatives’, ‘Indifferents’, and ‘Enthusiasts’ which are deemed to be buddying EV buyers The implications are recommended, which may offer some pertinent guidance for scholars and policymakers to encourage EVs adoption in the backdrop of emerging sustainable transport market.

Suggested Citation

  • Jaiswal, Deepak & Deshmukh, Arun Kumar & Thaichon, Park, 2022. "Who will adopt electric vehicles? Segmenting and exemplifying potential buyer heterogeneity and forthcoming research," Journal of Retailing and Consumer Services, Elsevier, vol. 67(C).
    • Handle: RePEc:eee:joreco:v:67:y:2022:i:c:s0969698922000625
    DOI: 10.1016/j.jretconser.2022.102969
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0969698922000625
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jretconser.2022.102969?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Huang, Youlin & Qian, Lixian & Soopramanien, Didier & Tyfield, David, 2021. "Buy, lease, or share? Consumer preferences for innovative business models in the market for electric vehicles," Technological Forecasting and Social Change, Elsevier, vol. 166(C).
    2. Egbue, Ona & Long, Suzanna, 2012. "Barriers to widespread adoption of electric vehicles: An analysis of consumer attitudes and perceptions," Energy Policy, Elsevier, vol. 48(C), pages 717-729.
    3. Eldeeb, Gamal & Mohamed, Moataz, 2020. "Quantifying preference heterogeneity in transit service desired quality using a latent class choice model," Transportation Research Part A: Policy and Practice, Elsevier, vol. 139(C), pages 119-133.
    4. Kennedy, Ryan & Numminen, Sini & Sutherland, Joseph & Urpelainen, Johannes, 2019. "Multilevel customer segmentation for off-grid solar in developing countries: Evidence from solar home systems in Rwanda and Kenya," Energy, Elsevier, vol. 186(C).
    5. Jaiswal, Deepak & Kaushal, Vikrant & Kant, Rishi & Kumar Singh, Pankaj, 2021. "Consumer adoption intention for electric vehicles: Insights and evidence from Indian sustainable transportation," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    6. Katharina Keller & Christian Schlereth & Oliver Hinz, 2021. "Sample-based longitudinal discrete choice experiments: preferences for electric vehicles over time," Journal of the Academy of Marketing Science, Springer, vol. 49(3), pages 482-500, May.
    7. Mukherjee, Sanghamitra Chattopadhyay & Ryan, Lisa, 2020. "Factors influencing early battery electric vehicle adoption in Ireland," Renewable and Sustainable Energy Reviews, Elsevier, vol. 118(C).
    8. Moshood, Taofeeq D. & Nawanir, Gusman & Mahmud, Fatimah & Mohamad, Fazeeda & Ahmad, Mohd Hanafiah & AbdulGhani, Airin, 2022. "Why do consumers purchase biodegradable plastic? The impact of hedonics and environmental motivations on switching intention from synthetic to biodegradable plastic among the young consumers," Journal of Retailing and Consumer Services, Elsevier, vol. 64(C).
    9. Zeinab Rezvani & Johan Jansson & Maria Bengtsson, 2018. "Consumer motivations for sustainable consumption: The interaction of gain, normative and hedonic motivations on electric vehicle adoption," Business Strategy and the Environment, Wiley Blackwell, vol. 27(8), pages 1272-1283, December.
    10. Ajzen, Icek, 1991. "The theory of planned behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 50(2), pages 179-211, December.
    11. Mohamed, Moataz & Higgins, Chris & Ferguson, Mark & Kanaroglou, Pavlos, 2016. "Identifying and characterizing potential electric vehicle adopters in Canada: A two-stage modelling approach," Transport Policy, Elsevier, vol. 52(C), pages 100-112.
    12. Gulzari, Adeela & Wang, Yuchen & Prybutok, Victor, 2022. "A green experience with eco-friendly cars: A young consumer electric vehicle rental behavioral model," Journal of Retailing and Consumer Services, Elsevier, vol. 65(C).
    13. Khalid Alzahrani & Adrienne Hall-Phillips & Amy Z. Zeng, 2019. "Applying the theory of reasoned action to understanding consumers’ intention to adopt hybrid electric vehicles in Saudi Arabia," Transportation, Springer, vol. 46(1), pages 199-215, February.
    14. Brand, Christian & Schwanen, Tim & Anable, Jillian, 2020. "‘Online Omnivores’ or ‘Willing but struggling’? Identifying online grocery shopping behavior segments using attitude theory," Journal of Retailing and Consumer Services, Elsevier, vol. 57(C).
    15. Habich-Sobiegalla, Sabrina & Kostka, Genia & Anzinger, Niklas, 2019. "Citizens’ electric vehicle purchase intentions in China: An analysis of micro-level and macro-level factors," Transport Policy, Elsevier, vol. 79(C), pages 223-233.
    16. J. H. Wesseling & E. M. M. I. Niesten & J. Faber & M. P. Hekkert, 2015. "Business Strategies of Incumbents in the Market for Electric Vehicles: Opportunities and Incentives for Sustainable Innovation," Business Strategy and the Environment, Wiley Blackwell, vol. 24(6), pages 518-531, September.
    17. Park, Jungkun & Hong, EunPyo & Le, Hoang TPM, 2021. "Adopting autonomous vehicles: The moderating effects of demographic variables," Journal of Retailing and Consumer Services, Elsevier, vol. 63(C).
    18. Gnann, Till & Stephens, Thomas S. & Lin, Zhenhong & Plötz, Patrick & Liu, Changzheng & Brokate, Jens, 2018. "What drives the market for plug-in electric vehicles? - A review of international PEV market diffusion models," Renewable and Sustainable Energy Reviews, Elsevier, vol. 93(C), pages 158-164.
    19. Cheng, Peng & OuYang, Zhe & Liu, Yang, 2019. "Understanding bike sharing use over time by employing extended technology continuance theory," Transportation Research Part A: Policy and Practice, Elsevier, vol. 124(C), pages 433-443.
    20. Kumar, Bipul & Manrai, Ajay K. & Manrai, Lalita A., 2017. "Purchasing behaviour for environmentally sustainable products: A conceptual framework and empirical study," Journal of Retailing and Consumer Services, Elsevier, vol. 34(C), pages 1-9.
    21. Katharina Keller & Christian Schlereth & Oliver Hinz, 2021. "Correction to: Sample-based longitudinal discrete choice experiments: preferences for electric vehicles over time," Journal of the Academy of Marketing Science, Springer, vol. 49(3), pages 501-501, May.
    22. Anders Jensen & Elisabetta Cherchi & Juan Dios Ortúzar, 2014. "A long panel survey to elicit variation in preferences and attitudes in the choice of electric vehicles," Transportation, Springer, vol. 41(5), pages 973-993, September.
    23. Moataz Mahmoud & Julian Hine, 2013. "Using AHP to measure the perception gap between current and potential users of bus services," Transportation Planning and Technology, Taylor & Francis Journals, vol. 36(1), pages 4-23, February.
    24. Higueras-Castillo, Elena & Liébana-Cabanillas, Francisco José & Muñoz-Leiva, Francisco & García-Maroto, Inmaculada, 2019. "Evaluating consumer attitudes toward electromobility and the moderating effect of perceived consumer effectiveness," Journal of Retailing and Consumer Services, Elsevier, vol. 51(C), pages 387-398.
    25. Sands, Sean & Ferraro, Carla & Campbell, Colin & Pallant, Jason, 2016. "Segmenting multichannel consumers across search, purchase and after-sales," Journal of Retailing and Consumer Services, Elsevier, vol. 33(C), pages 62-71.
    26. Plötz, Patrick & Schneider, Uta & Globisch, Joachim & Dütschke, Elisabeth, 2014. "Who will buy electric vehicles? Identifying early adopters in Germany," Transportation Research Part A: Policy and Practice, Elsevier, vol. 67(C), pages 96-109.
    27. Shanyong Wang & Jin Fan & Dingtao Zhao & Shu Yang & Yuanguang Fu, 2016. "Predicting consumers’ intention to adopt hybrid electric vehicles: using an extended version of the theory of planned behavior model," Transportation, Springer, vol. 43(1), pages 123-143, January.
    28. Shanyong Wang & Jin Fan & Dingtao Zhao & Shu Yang & Yuanguang Fu, 2016. "Predicting consumers’ intention to adopt hybrid electric vehicles: using an extended version of the theory of planned behavior model," Transportation, Springer, vol. 43(1), pages 123-143, January.
    29. Viswanath Venkatesh & Fred D. Davis, 2000. "A Theoretical Extension of the Technology Acceptance Model: Four Longitudinal Field Studies," Management Science, INFORMS, vol. 46(2), pages 186-204, February.
    30. Wang, Shanyong & Wang, Jing & Li, Jun & Wang, Jinpeng & Liang, Liang, 2018. "Policy implications for promoting the adoption of electric vehicles: Do consumer’s knowledge, perceived risk and financial incentive policy matter?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 117(C), pages 58-69.
    31. Chen, Shang-Yu, 2016. "Green helpfulness or fun? Influences of green perceived value on the green loyalty of users and non-users of public bikes," Transport Policy, Elsevier, vol. 47(C), pages 149-159.
    32. Priessner, Alfons & Sposato, Robert & Hampl, Nina, 2018. "Predictors of electric vehicle adoption: An analysis of potential electric vehicle drivers in Austria," Energy Policy, Elsevier, vol. 122(C), pages 701-714.
    33. Jaiswal, Deepak & Kant, Rishi, 2018. "Green purchasing behaviour: A conceptual framework and empirical investigation of Indian consumers," Journal of Retailing and Consumer Services, Elsevier, vol. 41(C), pages 60-69.
    34. Wang, Xiao-Wu & Cao, Yu-Mei & Zhang, Ning, 2021. "The influences of incentive policy perceptions and consumer social attributes on battery electric vehicle purchase intentions," Energy Policy, Elsevier, vol. 151(C).
    35. Ziegler, Andreas, 2012. "Individual characteristics and stated preferences for alternative energy sources and propulsion technologies in vehicles: A discrete choice analysis for Germany," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(8), pages 1372-1385.
    36. Han, Liu & Wang, Shanyong & Zhao, Dingtao & Li, Jun, 2017. "The intention to adopt electric vehicles: Driven by functional and non-functional values," Transportation Research Part A: Policy and Practice, Elsevier, vol. 103(C), pages 185-197.
    37. Schuitema, Geertje & Anable, Jillian & Skippon, Stephen & Kinnear, Neale, 2013. "The role of instrumental, hedonic and symbolic attributes in the intention to adopt electric vehicles," Transportation Research Part A: Policy and Practice, Elsevier, vol. 48(C), pages 39-49.
    38. Ladhari, Riadh & Gonthier, Jessica & Lajante, Mathieu, 2019. "Generation Y and online fashion shopping: Orientations and profiles," Journal of Retailing and Consumer Services, Elsevier, vol. 48(C), pages 113-121.
    39. Paul, Justin & Modi, Ashwin & Patel, Jayesh, 2016. "Predicting green product consumption using theory of planned behavior and reasoned action," Journal of Retailing and Consumer Services, Elsevier, vol. 29(C), pages 123-134.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kautish, Pradeep & Paço, Arminda & Thaichon, Park, 2022. "Sustainable consumption and plastic packaging: Relationships among product involvement, perceived marketplace influence and choice behavior," Journal of Retailing and Consumer Services, Elsevier, vol. 67(C).
    2. Zhao, Meng & Xu, Chang & Zhao, Wenxian & Lin, Mingwei, 2023. "New energy vehicle online selection method considering attribute compensation relationship and aspiration strength," Journal of Retailing and Consumer Services, Elsevier, vol. 75(C).
    3. Jaiswal, Deepak & Mohan, Ashutosh & Deshmukh, Arun Kumar, 2023. "Cash rich to cashless market: Segmentation and profiling of Fintech-led-Mobile payment users," Technological Forecasting and Social Change, Elsevier, vol. 193(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jaiswal, Deepak & Kaushal, Vikrant & Kant, Rishi & Kumar Singh, Pankaj, 2021. "Consumer adoption intention for electric vehicles: Insights and evidence from Indian sustainable transportation," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    2. Upadhyay, Nitin & Kamble, Aakash, 2023. "Examining Indian consumer pro-environment purchase intention of electric vehicles: Perspective of stimulus-organism-response," Technological Forecasting and Social Change, Elsevier, vol. 189(C).
    3. Ye, Fei & Kang, Wanlin & Li, Lixu & Wang, Zhiqiang, 2021. "Why do consumers choose to buy electric vehicles? A paired data analysis of purchase intention configurations," Transportation Research Part A: Policy and Practice, Elsevier, vol. 147(C), pages 14-27.
    4. Tuğba Yeğin & Muhammad Ikram, 2022. "Analysis of Consumers’ Electric Vehicle Purchase Intentions: An Expansion of the Theory of Planned Behavior," Sustainability, MDPI, vol. 14(19), pages 1-27, September.
    5. Shanmugavel, Nagarajan & Balakrishnan, Janarthanan, 2023. "Influence of pro-environmental behaviour towards behavioural intention of electric vehicles," Technological Forecasting and Social Change, Elsevier, vol. 187(C).
    6. Taneja, Shilpa & Ali, Liaqat, 2021. "Determinants of customers’ intentions towards environmentally sustainable banking: Testing the structural model," Journal of Retailing and Consumer Services, Elsevier, vol. 59(C).
    7. Sun, Ka Kit & He, Sylvia Y. & Thøgersen, John, 2022. "The purchase intention of electric vehicles in Hong Kong, a high-density Asian context, and main differences from a Nordic context," Transport Policy, Elsevier, vol. 128(C), pages 98-112.
    8. Qingyou Yan & Guangyu Qin & Meijuan Zhang & Bowen Xiao, 2019. "Research on Real Purchasing Behavior Analysis of Electric Cars in Beijing Based on Structural Equation Modeling and Multinomial Logit Model," Sustainability, MDPI, vol. 11(20), pages 1-15, October.
    9. Kumar Shalender & Naman Sharma, 2021. "Using extended theory of planned behaviour (TPB) to predict adoption intention of electric vehicles in India," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(1), pages 665-681, January.
    10. Higueras-Castillo, Elena & Kalinic, Zoran & Marinkovic, Veljko & Liébana-Cabanillas, Francisco J., 2020. "A mixed analysis of perceptions of electric and hybrid vehicles," Energy Policy, Elsevier, vol. 136(C).
    11. Mosa Aseri & Zaid Ahmad Ansari, 2023. "Purchase Behaviour of Green Footwear in Saudi Arabia Using Theory of Planned Behaviour," Sustainability, MDPI, vol. 15(6), pages 1-17, March.
    12. Wang, Xiao-Wu & Cao, Yu-Mei & Zhang, Ning, 2021. "The influences of incentive policy perceptions and consumer social attributes on battery electric vehicle purchase intentions," Energy Policy, Elsevier, vol. 151(C).
    13. Secinaro, Silvana & Calandra, Davide & Lanzalonga, Federico & Ferraris, Alberto, 2022. "Electric vehicles’ consumer behaviours: Mapping the field and providing a research agenda," Journal of Business Research, Elsevier, vol. 150(C), pages 399-416.
    14. Hu, Xianfeng & Wang, Shanyong & Zhou, Rongting & Gao, Lan & Zhu, Zujun, 2023. "Policy driven or consumer trait driven? Unpacking the EVs purchase intention of consumers from the policy and consumer trait perspective," Energy Policy, Elsevier, vol. 177(C).
    15. Goel, Pooja & Kumar, Aalok & Parayitam, Satyanarayana & Luthra, Sunil, 2023. "Understanding transport users' preferences for adopting electric vehicle based mobility for sustainable city: A moderated moderated-mediation model," Journal of Transport Geography, Elsevier, vol. 106(C).
    16. Yang, Shu & Cheng, Peng & Li, Jun & Wang, Shanyong, 2019. "Which group should policies target? Effects of incentive policies and product cognitions for electric vehicle adoption among Chinese consumers," Energy Policy, Elsevier, vol. 135(C).
    17. Han, Liu & Wang, Shanyong & Zhao, Dingtao & Li, Jun, 2017. "The intention to adopt electric vehicles: Driven by functional and non-functional values," Transportation Research Part A: Policy and Practice, Elsevier, vol. 103(C), pages 185-197.
    18. Mohamed, Moataz & Higgins, Chris & Ferguson, Mark & Kanaroglou, Pavlos, 2016. "Identifying and characterizing potential electric vehicle adopters in Canada: A two-stage modelling approach," Transport Policy, Elsevier, vol. 52(C), pages 100-112.
    19. Song, Jiawen & Cai, Lanhui & Yuen, Kum Fai & Wang, Xueqin, 2023. "Exploring consumers’ usage intention of reusable express packaging: An extended norm activation model," Journal of Retailing and Consumer Services, Elsevier, vol. 72(C).
    20. Brückmann, Gracia, 2022. "The effects of policies providing information and trialling on the knowledge about and the intention to adopt new energy technologies," Energy Policy, Elsevier, vol. 167(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:joreco:v:67:y:2022:i:c:s0969698922000625. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/journal-of-retailing-and-consumer-services .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.