Consumers Bounce Back In Willingness To Pay For Food

admin | January 19th, 2017 - 8:34 pm

After a dip in December, consumer willingness-to-pay (WTP) increased for all food products rebounded, with all food products experiencing gains of at least 7 percent, according to the latest Food Demand Survey from Ohio State University.

Steak (14.57 percent), deli ham (20.39 percent) and chicken wings (27.36 percent) experienced the largest percent increase in WTP.

WTP for both beef products is higher than one year ago, but the opposite was the case for both pork products.

Meanwhile, expenditures on food eaten at home decreased 2.84 percent from December to January, and expenditures on food purchased away from home increased 4.66 percent from December to January. Consumers expect higher beef, chicken and pork prices compared to one month ago. Consumers plan to buy more chicken compared to last month, but purchasing plans for beef and pork decreased.

Awareness and concern tracking

Salmonella, GMOs and E. coli were the most visible issues in the news over the past two weeks. Awareness increased for all issues this month. The largest percent increase in awareness from December to January was for salmonella followed by swine flu.

Salmonella, E. coli and farm animal welfare were ranked as the top three food safety concerns in January. The largest percent increase in concern over last month was for “pink slime” followed by “mad cow” disease. The largest percent decrease in concern was for BSE followed by GMOs.

Taste, safety and price remained consumers’ most important values when purchasing food this month. Consumers’ food values remained similar to those in past months. This month, consumers reported that their main challenge was finding affordable foods that fit within their budget.

Losing weight was the challenge experiencing the largest percentage increase, while finding foods my children will eat experienced the largest percent decrease. In January, 9.2 percent of participants reported having food poisoning, a more than 50 percent increase from one month ago. About 7.3 percent of respondents reported being vegetarian or vegan.

 

Source:  meatingplace.com, 1-13-2017

 

 

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