Corporate Social Responsibility certifications influence consumer preferences and seafood market price

Abstract

Abstract This study analyzes consumer preferences toward Corporate Social Responsibility (CSR) aspects of canned tuna fish in relation to environmental and social responsibility. The analysis investigates the different existing labeled standards on canned tuna fish, evaluating the effects of such CSR-labeled information on market price and consumer choice. Data collection was carried out at a retail store and respondents were interviewed only after they had put a tin of canned tuna fish, chosen from among those available in the real choice set, in their shopping basket. Data were analyzed using two different, but complementary, methods: hedonic pricing and random utility models. Results show that consumers are in search of environmental and social sustainability attributes for canned tuna fish. Indeed, especially concerning the environmental dimension, consumers prefer green products more than their ordinary counterparts. The findings indicate that products with environmental certifications are priced higher than regular non-certified products, while those with social certifications are priced similarly to regular products. With regards to consumer choice, canned tuna with environmental or social certifications is preferred as opposed to the non-certified product, with both types of certifications showing a similar willingness to pay. The willingness to pay for such products seems to increase, ceteris paribus, with income and decrease with age. By combining the experimental findings of the two models adopted, managerial and policy implications are drawn.