Experimental analysis shows tactile experience influences consumer perception and willingness to pay for leather products, suggesting marketing benefits.
Key Points
This study aims to measure how tactile experience affects consumer preferences and their willingness to pay for leather products, particularly alligator hide.
Conducted a discrete choice experiment with 145 responses from craft events.
Implemented a split-sample experiment between a control group and a tactile group.
Analyzed perception of quality and willingness to pay for different leather products.
Tactile experience increased perceived quality and willingness to pay for alligator hide products.
Significant variation in willingness to pay was noted, with alligator hide values ranging from $49 to $122.
Hypothetical bias adjustments showed diminished differences in preferences based on tactile experience.