Consumers' Perceptions on Nanotechnology Enabled Cosmetic Products in Conception of Physical Wellness

Applications of Nanotechnology has widened in diverse fields such as, agrifood processing, food packaging, cosmetics and many more. In this paper we defined a research model constitutes consumers' willingness to pay for NCPs (Nanotechnology enabled cosmetics products) in fulfillment of physical wellness which is studied from observed variables perceive risk, trust and perceived benefit for the past literature. A total of 139 consumer sample data was taken to conduct the study. It is observed through hierarchical regression that perceived risk is more associated with cosmetics products enabled with nanotechnology and perceived benefit is also a significant predictor i.e., at a benefit forthcoming consumers are comprised to pay for NCPs and followed by trust component in predicting the behavior. It is also observed that consumer's education qualification (control variable) was having a significant positive association on the behavioral aspect willing to pay for nanotechnology enabled products. Inclusion of a variable educational qualification as control variable the explained variance of the model has increased.