Consumers' Willingness-To-Pay Drops Across the Board for All Food Products in Latest FooDS SurveyThu, 16 Feb 2017 15:46:13 CST
Dr. Jayson Lusk, food and agricultural economist at Oklahoma State University, released this week the results of the February 2017 edition of the Food Demand Survey (FooDS). In this month’s survey, Lusk found that compared to one month ago, willingness-to-pay (WTP) decreased for all food products.
The survey also revealed that for this month, expenditures on food eaten at home increased 2.84 percent from January to February and expenditures on food purchased away from home increased 2.78 percent. Highlighted, too, is the fact that consumers indicate they plan to buy less chicken and pork compared to last month, but as for beef, they plan to buy similar quantities as in January.
The top ranking issues consumers say they are concern with the most, the survey shows these to be GMOs, Salmonella and E.coli. However, concern for both swine and bird flu fell during this month. Meanwhile, taste, safety and price remain at the top of consumer’s list of most important values.
Lusk added several ad hoc questions to this month’s survey, asking consumers their thoughts on the herbicide glyphosate as well as their WTP for organic vs. non-organic apples and granola bars, before and after receiving information on glyphosate. In summary, Lusk found that the negative information provided had a much larger impact on the opinions of the responders.
“We were interested, in particular, about forms of confirmation bias - where people seek out information that may confirm their prior beliefs, and by the research in cultural cognition,” Lusk wrote in his blog over the survey, “which suggests we choose information to believe based on our ‘tribe.’”
View the results of the survey in Lusk’s report for this month, by clicking here.
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