Eco-Conscious Consumption: Nurturing Sustainability in Industry 5.0

Introduction

In the current epoch of Industry 5.0, marked by the integration of digital technologies, artificial intelligence, and sustainable practices, the focus on sustainable consumption and heightened consumer awareness of eco-friendly products has become increasingly pronounced. This chapter examines the intricate relationship between Industry 5.0 and eco-conscious consumption, highlighting consumers' pivotal role in shaping sustainable development trajectories (Youssef & Mejri, 2023). As industries grapple with the imperative to innovate sustainably, understanding and responding to consumer preferences, become critical for success.

Amidst worldwide environmental concerns and the swift advancement of industrial practices, eco-conscious consumption has become a crucial approach to promoting sustainability in Industry 5.0. Industry 5.0, which combines advanced technology and human-centred approaches, offers a distinct chance to reassess conventional consumer habits and prioritize environmental responsibility alongside industrial progress. Eco-conscious consumerism involves a comprehensive approach beyond consumer behaviour to include all product and service lifecycle stages, including design, production, consumption, and disposal (Dhayal et al., 2023). The concept incorporates a mentality that aims to reduce environmental damage, preserve natural resources, and encourage social responsibility while maintaining economic viability. This paradigm shift is essential not just for reducing the negative consequences of industrialization on the planet but also for guaranteeing the long-term ability of businesses to adapt and thrive in an ever more linked global economy.

Industry 5.0, which involves the smooth integration of cyber-physical systems, artificial intelligence, and the Internet of Things (IoT) with human creativity, provides an ideal environment for adopting environmentally responsible purchasing patterns. By leveraging sophisticated technologies, industries may achieve optimal resource usage, minimize waste generation, and create new solutions corresponding to sustainability goals. In addition, Industry 5.0 prioritizes a human-centred approach, highlighting the need for cooperation, inclusivity, and ethical considerations (Villar et al., 2023). These factors are essential for cultivating a culture of environmental awareness within the industrial sector.

This study examines the convergence of environmentally conscious consumption with Industry 5.0, highlighting the connections, difficulties, and possibilities involved in promoting sustainability within this revolutionary framework. This study provides valuable insights into how industries can utilize technology advancements and embrace comprehensive strategies to promote sustainable development and succeed in a fast-changing business landscape. A thorough examination of pertinent literature, case studies, and exemplary practices will achieve this. By adopting eco-conscious consumption as a guiding concept, enterprises can reduce their environmental impact and stimulate positive social transformation, generating value beyond economic measures.

The theoretical underpinning for this chapter is based on the ideas of sustainable consumerism and eco-innovation, specifically within the context of Industry 5.0. Sustainable consumption entails minimizing ecological footprint, preserving finite resources, and fostering social accountability in consumer conduct. Eco-innovation encompasses the creation of ecologically conscious goods, procedures, and commercial frameworks that promote sustainable expansion and tackle environmental obstacles. Industry 5.0 refers to merging cutting-edge technologies with human-centred approaches in manufacturing and industry. This enables the incorporation of sustainability principles into industrial processes.