Mehak Bharti
๐ค SpeakerAppearances Over Time
Podcast Appearances
In this case, there is no overtime component to it.
You're just saying that if you want consumers to buy a fair trade certified coffee, please don't increase the price.
Ethical products tend to be expensive and that expense, that extra cost, of course, consumer has to bear it.
But instead of bearing the cost by paying higher prices, just, you know...
Bear that cost in terms of lower quantity.
You don't necessarily have to tell the consumers up front.
They can see it.
You know, they will see the reduced quantity compared to the regular alternative.
But the idea is that consumers would be more comfortable in paying with, you know, with quantity than with pranks.
You know, this is the question this gap has puzzled researchers for years, and we are hoping that, you know, we sort of help address this behavior intention gap in some way.
Like I mentioned before, people consistently tell us that they care about fair wages, sustainability, you know, environmental responsibility, so on and so forth.
But of course, we cannot expect them to pay extra just because, you know, companies want them to save environment.
So those values often lose to price.
So, yes, to a certain extent, if ethical products, you know, are come in reduced quantity and the financial difference is paid through quantity and not price and price is no more a real barrier for them, I think it would help reduce the attention behavior gap for sure.
You know, I think this, if I'm understanding your question correctly, this would only apply if the product is truly ethical, because people are ready to sacrifice quantity, you know, for their moral norms.
But if the benefit is directed towards the self, let's say higher quality or higher premium, then this may not necessarily work.
So if there's a company that's known for greenwashing, it will clearly not work.
If it's a company that's not selling ethical product, but selling a product that's lower in quantity.
Just to attract consumers, that may not work either because here the benefit is directed towards the self and not the others.
So that's an excellent question.