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More than 80 percent of U.S. consumers and, perhaps more surprising, more than 60 percent of Chinese consumers say that they are willing to pay more for products labeled “Made in USA” than for those labeled “Made in China,” according to new research released by The Boston Consulting Group (BCG), a private company with 78 offices in 43 countries.
In September, BCG surveyed more than 5,000 consumers in the United States, China, Germany and France regarding their attitudes toward the value of the “Made in USA” brand and their actual buying behavior. The results reveal that U.S. consumers will pay a premium for the Made in USA brand across a broad range of product categories, although the premium varies significantly depending on the category.
About two-thirds of U.S. consumers are willing to pay a premium for 10 key product categories that were tested—from baby food and appliances to electronics and apparel. The premium they are willing to pay varies, ranging from about 10 percent to more than 60 percent in the categories tested. In every one of the 10 categories, at least 20 percent of U.S. consumers are willing to pay a premium of more than 10 percent. Nearly 60 percent of U.S. consumers had chosen Made in USA products over less expensive Chinese goods at least once in the month before the survey.
In surveying Chinese consumers, BCG found a similar willingness to pay more for USA-made goods. More than 60 percent of Chinese consumers are willing to pay more for Made in USA goods. Nearly 50 percent of Chinese consumers prefer a product made in the United States to a China-made product of equivalent price and quality. The premium that Chinese consumers are willing to pay ranges from about 10 percent to almost 80 percent in the categories tested. More than half had chosen USA-made products over less expensive Chinese goods at least once in the month before the survey.
In both the U.S. and China, respondents of all age groups and income levels expressed a concern for quality, a key driver of the consumer preference for products made in the United States.
What do you think about the survey findings? Would you pay more for a product with the Made in USA label?