Consumers' Perception and Willingness to Pay for Eco-Labeled Seafood: A Case-Study

The aim of this paper is to discuss eco-labels on fishery-products, which is useful for improving both seafood markets and strategies for sustainable fishery management. In this study, 560 consumer-surveys were conducted in the north and south of Italy. A probit regression model and linear regression were used to respectively measure consumers' perception and willingness to pay for eco-labeled seafood. The profile of the consumer that would favor eco-labeled products is skewed toward females (~50-year-old) who live in a family and are intrinsically motivated to protect the environment and to promote the sustainable exploitation of marine resources. Willingness to pay for eco-labeled fishery products is related to the initial price of the product, income and family situation; it is also strongly related to the "attention to fish quality" and "environmental features", along with information obtained from "means of mass communication". According to our analysis, a price premium for eco-labeled products could range between 12-13%.