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Consumers and the Evolution of New Markets: The Case of the Ethical Foods

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  • Amanor-Boadu, Vincent
  • Schnitz, Casey

Abstract

Changes in consumer preferences have frequently created new markets for new products. This paper explores the antecedents of the changes in consumer preferences and the factors influencing the evolution of niche markets into commodity markets and its speed. The results show that the more embedded characteristics products have and more consumption is driven by attitude, the longer products are able to maintain their uniqueness and the slower their evolution to commodities.

Suggested Citation

  • Amanor-Boadu, Vincent & Schnitz, Casey, 2008. "Consumers and the Evolution of New Markets: The Case of the Ethical Foods," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6752, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saeaed:6752
    DOI: 10.22004/ag.econ.6752
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    File URL: https://ageconsearch.umn.edu/record/6752/files/sp08am11.pdf
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    References listed on IDEAS

    as
    1. Edward L. Glaeser, 2004. "Psychology and the Market," American Economic Review, American Economic Association, vol. 94(2), pages 408-413, May.
    2. D. A. L. Auld, 1974. "Advertising and the Theory of Consumer Choice," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 88(3), pages 480-487.
    3. Csikszentmihalyi, Mihaly, 2000. "The Costs and Benefits of Consuming," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 27(2), pages 267-272, September.
    4. Richard G. Lipsey & Gideon Rosenbluth, 1971. "A Contribution to the New Theory of Demand: A Rehabilitation of the Giffen Good," Canadian Journal of Economics, Canadian Economics Association, vol. 4(2), pages 131-163, May.
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    Cited by:

    1. Andrijana Kos Kavran & Ljerka Cerovic & Adriana Jelusic, 2015. "Socially Responsible Consumer Behaviour," Economy of eastern Croatia yesterday, today, tommorow, Josip Juraj Strossmayer University of Osijek, Faculty of Economics, Croatia, vol. 4, pages 703-712.

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    Keywords

    Food Consumption/Nutrition/Food Safety; Institutional and Behavioral Economics;

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