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From waste to premium: Consumers perception of value-added surplus products and their willingness to pay

Köpcke, Jannes (2020) From waste to premium: Consumers perception of value-added surplus products and their willingness to pay.

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Abstract:Aim: Food waste has a critical impact on the environmental, economic, and social sustainability of the planet. Novel approaches are necessary to reduce the amount of food waste and increase the utilization rate of food in the food supply chain. This study examined how consumers perceive and assess value-added surplus products (VASP). VASP are a novel kind of food that can help to reduce the amount of food waste by making use of surplus or underutilized food which was formerly wasted. Method: An online survey in Germany with 201 participants was carried out to examine the willingness to pay for VASP, and the factors influencing it. Furthermore, a two-step cluster analysis was conducted to identify promising consumer segments. Results: The results showed that 78,5% of the participants were open to paying at least the same amount of money for VASP products as they would pay for comparable conventional products. Overall, consumers were willing to pay an additional price premium of 10%. Five customer segments were identified, and similarities to customers of organic and sustainable food were found. Conclusion: The results indicate a promising market potential together with economic feasibility for the production of VASP for food supply chain actors. Furthermore, it was shown that VASP is not perceived as lower in quality and price discounts are not necessary.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:https://purl.utwente.nl/essays/85249
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