Understanding consumers to inform market interventions for Singapore's shark fin trade

Abstract

Abstract Sharks, rays and their cartilaginous relatives (Class Chondrichthyes, herein ‘sharks’) are among the world's most threatened species groups, primarily due to overfishing, which in turn is driven by complex market forces including demand for fins. Understanding the high‐value shark fin market is a global priority for conserving shark and rays, yet the preferences of shark fin consumers are not well understood. This gap hinders the design of evidence‐based consumer‐focused conservation interventions. Using an online discrete choice experiment, we explored preferences for price, quality, size, menu types (as a proxy for exclusivity) and source of fins (with varying degrees of sustainability) among 300 shark fin consumers in Singapore: a global entrepôt for shark fin trade. Overall, consumers preferred lower priced fins sourced from responsible fisheries or produced using novel lab‐cultured techniques. We also identified four consumer segments, each with distinct psychographic characteristics and consumption behaviours. These preferences and profiles could be leveraged to inform new regulatory and market‐based interventions regarding the sale and consumption of shark fins, and incentivize responsible fisheries and lab‐cultured innovation for delivering conservation and sustainability goals. In addition, message framing around health benefits, shark endangerment and counterfeiting could reinforce existing beliefs among consumers in Singapore and drive behavioural shifts to ensure that market demand remains within the limits of sustainable supply. Read the free Plain Language Summary for this article on the Journal blog.