Eliciting Consumer Preference and Willingness to Pay for Mushrooms: A Latent Class Approach
Benjamin Campbell () and
Journal of Food Distribution Research, 2019, vol. 50, issue 1
As consumer demand for food labeling becomes increasingly important, producers and retailers can include various labeling to attract new customers. This study investigates Connecticut consumers’ preferences and willingness to pay for mushrooms marketed with various labels using a latent class approach to identify classes within the market. Results reveal three market segments (price/GMO-label, locally/organically grown, and traditional mushroom varieties). Overall, only a third of consumers valued the “locally grown” or “organic” labels, so charging a premium for these labels might alienate a majority of consumers. Finally, GMO labeled mushrooms are discounted, but the non-GMO label receives little value.
Keywords: Consumer/Household Economics; Crop Production/Industries; Demand and Price Analysis (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jlofdr:292182
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