Willingness to Pay for Craft Beer: The Role of B‐Corp Certification and Origin of Ingredients

Craft breweries are continually looking for ways to differentiate their products. This study investigates consumers' willingness‐to‐pay (WTP) for Florida craft beer featuring the differentiating attributes of B‐Corp certification and ingredients origin. Utilizing a choice experiment with 2346 respondents, we analyzed the impact of B‐Corp certification and behavioral traits like altruism, warm glow, and subjective norms on WTP. Results show a significant increase in WTP after information exposure, highlighting its potential as an important marketing strategy. Additionally, a positive relationship was found between reported warm glow and WTP for B‐Corp certified beer, contributing to an understanding of the targeted market.