THE IMPACT OF “TRADE-IN” POLICIES ON CONSUMERS’ PURCHASE INTENTIONS FOR HOUSEHOLD APPLIANCES: EMPIRICAL EVIDENCE FROM GUANGZHOU RESIDENTS

Against the backdrop of China’s nationwide household appliance trade-in policy aimed at promoting green consumption and expanding domestic demand, this study examines how policy instruments influence consumers’ purchase intentions from a sustainability-oriented behavioral perspective. Drawing on the Howard–Sheth consumer behavior model, an integrated framework is constructed to analyze the effects of external policy stimuli—including subsidies, after-sales services, procedural arrangements, and recycling schemes—on purchase intention through perceived value, perceived risk, and social influence. Based on 965 valid questionnaires collected through online and offline surveys in Guangzhou, structural equation modeling is employed to test the proposed relationships. The results show that subsidy policies exert the strongest overall impact on purchase intention, mainly by enhancing perceived value and social influence, while procedural and recycling policies indirectly promote intention by improving value perception and social identification. Among cognitive factors, perceived value has the most significant positive effect, whereas perceived risk markedly suppresses purchase intention. These findings reveal the micro-level mechanisms of policy-driven sustainable consumption and provide practical implications for optimizing trade-in policy design beyond a subsidy-centered approach.