Extra‐virgin olive oil: are consumers provided with the sensory quality they want? A hedonic price model with sensory attributes
2018
Cavallo, Carla | Caracciolo, Francesco | Cicia, Gianni | Del Giudice, T. (Teresa)
BACKGROUND: Over the years, niche‐differentiation strategies and food policies have pushed quality standards of European extra‐virgin olive oil towards a product that has a sensory profile consisting of fruity, bitter and pungent notes, with such oils having excellent healthy features. However, it is unclear whether typical consumers are ready for a richer and more complex sensory profile than the neutral one historically found on the market. This potential discrepancy is investigated in the present study aiiming to determine whether current demand is able to appreciate this path of quality enhancement. Implicit prices for each and every attribute of extra‐virgin olive oil with a focus on sensory characteristics were investigated using a hedonic price model. RESULTS: Although confirming the importance of origin and terroir for extra‐virgin olive oil, the results of the present study strongly confirm the discrepancy between what is currently valued on the market and what novel supply trends are trying to achieve in terms of the sensory properties of such products. CONCLUSION: Increasing consumer awareness about the direct link between the health quality of oils and their sensory profile appears to be necessary to make quality enhancement programs more successful on the market and hence more effective for companies. © 2017 Society of Chemical Industry
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