Consumers’ Value and Risk Perceptions of Circular Fashion: Comparison between Secondhand, Upcycled, and Recycled Clothing
A circular economy paradigm has recently emerged to combat environmental pollution and climate change around the world. In the fashion industry, circular fashion has been spotlighted as an environmentally friendly approach to fashion products. The purpose of this study was to investigate consumers’ value and risk perceptions, product attitudes, and behavior intentions toward circular fashion consumption. Specifically, this study focuses on three types of circular fashion products from textile waste: reused clothing, upcycled clothing, and recycled clothing. The moderating role of individualism was also explored. Survey data from 850 consumers in their 20s and 30s in Korea were collected to test our hypotheses. The results showed the influence of emotional value was the greatest, while economic risk and performance risk did not affect product attitudes. A moderating effect of individualism was found in the paths between perception dimension and product attitudes and between product attitudes and behavior intention. These findings can help retailers and marketers create more tailored retailing and promotional strategies.