Research on the Influence Path of Product Origin on Consumers’Willingness to Pay Premiums for the Products with Geographical Indications: Based on Psychological Ownership and Nostalgia
Cultivating geographical indication brands is an important way to promote rural revitalization and clarifying consumers’ willingness to pay premiums for geographical indication brands of different origins is an important prerequisite to give full play to the competitive advantages of geographical indication brands. Based on 689 consumer survey data from Yichang in Hubei, Chenzhou in Hunan, and Ganzhou in Jiangxi, this paper analyzes whether geographical indication labels affect consumers’ willingness to pay premiums. From the perspectives of psychological ownership and nostalgia, the research model of the influence mechanism of product origin on consumers’ willingness to pay premiums for products with geographical indications is constructed and tested. The study found that geographical indication labels significantly impact consumers’ willingness to pay premiums; product origin and consumers’ willingness to pay premiums for the products with geographical indications show a significant positive correlation. That is, consumers have a higher willingness to pay premium for the products with geographical indications from their hometown than for products with geographical indications not from their hometown. Psychological ownership and perceived quality continuously mediate the influence of product origin on the consumers’ willingness to pay premium for the products with geographical indications. Notalgia positively moderates the relationship between product origin and consumers’ willingness to pay premium for the products with geographical indications. Accordingly, it is recommended that agricultural product companies pay attention to the psychological ownership effect for products with geographical indications, strengthen the classification management of consumers when promoting products with geographical indications, and give due consideration to the impact of consumers’ notalgia on their purchasing behavior for the products with geographical indications.