More than 80 percent of US consumers and, even 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 global management consulting firm and the world's leading advisor on business strategy.
In September, BCG surveyed more than 5,000 consumers in the US, China, Germany, and France regarding their attitudes toward the value of the Made in USA brand and their actual buying behavior. The results show that US consumers will pay a premium for the Made in USA brand across a broad range of product categories, although the premium may varies significantly depending on the category.
Among the findings:
- About two-thirds of US consumers are willing to pay a premium for ten 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 ten categories, at least 20 percent of US consumers are willing to pay more than 10 percent more for US goods.
* Nearly 60 percent of US consumers had chosen Made in USA products over less expensive Chinese goods at least once in the month before the survey.
- The premium that Chinese consumers are willing to pay ranges from about 10 percent to almost 80 percent in the categories tested.
The Boston Consulting Group (BCG) is a global management consulting firm and the world's leading advisor on business strategy..
