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Men Willing to Pay More for Chocolate Than Women
Particularly if it is an expensive premium product [iq.hse.ru]:
Researchers at HSE University in Perm have used electroencephalography (EEG) to determine that consumers are willing to pay 10% more for chocolate when they know it to be a premium product. On the other hand, if consumers are aware that a chocolate product is inexpensive, their willingness to pay decreases by 13%. On average, men are willing to pay 8.8 monetary units more for chocolate than women, and men's willingness to pay decreases by 0.3 monetary units with each additional year of age. The study has been published [sciencedirect.com] in Food Quality and Preference.
According to 2021 data [rosstat.gov.ru], Russians eat an average of 39 kilograms of sugar per year, including confectionery, jams and canned fruit and berries. Chocolate bars are the favourite treat of those with a sweet tooth—they are preferred [ria.ru] by one in three Russians.
The WTP (willingness to pay) indicator is used to assess purchasing power, which represents the maximum amount that a buyer is willing to pay for a product. Marketers use surveys, focus groups and interviews to determine WTP, but this approach can be expensive, time-consuming, and does not always provide an accurate representation of respondents' preferences.
To obtain a more objective assessment of willingness to pay, HSE University-Perm researchers Daria Semenova, Sofia Kulikova, Yulia Zaripova (Shamgunova) and Mariia Molodchik used electroencephalography to measure neurophysiological brain reactions to chocolate tasting.
[...] The authors believe that collecting more data on brain activity during consumer decision-making will advance the field of neuromarketing, and they hope that future studies will build upon their findings.
Journal Reference:
Daria Semenova, et al., Measuring effects of packaging on willingness-to-pay for chocolate: Evidence from an EEG experiment, Food Quality and Preference, 2023. DOI: https://doi.org/10.1016/j.foodqual.2023.104840 [doi.org]
