March 11, 2008

More than 80 percent of US consumers willing to pay higher prices for branded meat

More than 80 percent of consumers are well disposed to pay higher prices for branded meat, according to a quantitative market research study.

The December 2007 online survey garnered replies from 600 consumers in four US cities, and was dispersed evenly among beef, chicken and pork consumers.

Survey results reported that consumers are well disposed to pay a higher price for branded meat.

On a percentage basis, 84 percent of consumers are willing to pay 5 percent more in price, 76 percent are willing to pay 10 percent more, and 55 percent are willing to pay 20 percent more.

The study also reports that many consumers are unable to recall meat brands, which are many. However, consumers are able to recall chicken brands better, with 71 percent able to determine at least one chicken brand.

Pork and beef did not fare as well; about 50 percent of surveyed consumers were unable to identify any pork brand, and 46 percent were unable to identify any beef brand.

The study, which is named "Power of Brands: Assessing the Role of Branding in Meat Selection and Purchase", was conducted by the US Midan Marketing and Shugoll Research.