Greenwashing and Its Impact on Consumer Confidence – Case Study of Slovak Republic

Abstract

Objective - This paper is focused on the topic of greenwashing and its impact on consumer confidence in specific conditions of Slovak republic. Nowadays, consumer confidence is mainly recognized as economic indicator measuring the interpretation of the current economic environment by consumers and their expectations for the future. In presented paper, we analyse greenwashing as a possible source of discontent. Greenwashing is a negative phenomenon of green marketing activities realised in the scope of corporate social responsibility. Methodology/Technique - First, green characteristics of Slovak consumers are analysed in context of Hofstede cultural dimensions of Slovak republic. Subsequently, there is evaluated realised questionnaire survey dedicated to the analysis of greenwashing impact on consumer confidence. Then, the relationship between greenwashing and consumer confidence in Slovak market, is detected. Findings – Results showed that attitude of authority has an impact on consumer confidence and the greenwashing has not got an impact on buying behavior of Slovak consumers. Novelty - It has a vital importance to analyze socio-cultural profile of the nation and in accordance with obtained results highlight the importance of environmental education of the society. Type of Paper - Review Keywords: Green Marketing; Greenwashing; Corporate Social Responsibility; Consumer Confidence. JEL Classification: D11, E21, M31.