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Customers are (Still) Willing to Pay More for Safer Food
Today’s top story on Marler Clark’s Food Safety News site discusses a study (re-)confirming that people are willing to pay more for safer food. (The March 2011 Deloitte Consumer Food Safety Survey reached a similar conclusion.) However, as with most risk management plans, this recent study confirms consumers consider a cost/benefit analysis and will not pay an unlimited amount for minor safety improvements.
The bottom line for manufacturers, grocers, and restauranteurs: your customers will pay more to avoid food-borne illness (although they will not pay unlimited sums for minor food safety improvements), and a comprehensive food safety risk management plan may also reduce the costs and risks of litigation and lost brand value.
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