94% said they buy, only 1/3 did
Aug 22, 2024
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94% of consumers said they were willing to pay a price premium for an energy efficient lightbulb, but only one-third actually purchased the product.
This is the problem of “Willingness-to-Pay (WTP)” research, and why not all behavioural studies are the same.
When people are asked a hypothetical, like “would you buy this product?” or “how much would you pay?”, they give you their best guess. As well intentioned as their answer might be, it doesn’t mean it will result in real behaviour.
