|Home > IMPACT OF CHANGING CONSUMER PREFERENCES ON WILLINGNESS-TO-PAY FOR BEEF STEAKS IN ALTERNATIVE RETAIL PACKAGING|
The purpose of this study was to identify how consumer perceptions of selected attributes of beef steaks, individual consumer demographics and perceived changes in purchases of substitute meats affect willingness-to-pay for beef rib-eye steaks in the traditional overwrapped styrofoam tray and vacuum skin packages. A laboratory auction was used to obtain willingness-to-pay data. The results suggest that health related factors, particularly the concern regarding cholesterol, reduced the willingness-to-pay for beef rib-eye steaks, regardless of package type. For the vacuum skin package to be successful, information about the package is necessary, along with providing a consistent and quality product, particularly with respect to trim.