Study Finds 'Genetically Engineered' Food Product Labels Do Not Impact Retail Prices
This entry was posted on September, 18 2013.
Genetically Engineered Food Product Labels Wouldn't Impact Supermarket Prices, Study Finds
Just Label It, a campaign that advocates the labeling of genetically engineered foods, recently stated a study it commissioned found the implementation of GE food product labels would not alter brand's store-shelf prices. The research was carried out by Kari Robertson, an independent consultant.
"Why Label Changes Don't Affect Food Prices" takes an in-depth look at what factors influence changes in supermarket goods prices. Robertson explained price tags are primarily impacted by demand-based elements, like consumer preferences and demographic characteristics. Competitor prices as well as market fluctuations also play a major role how items are quantified in stores.
"While a product's wholesale cost is an important variable, it has, relatively speaking, less of an impact on retail prices than these demand-related forces," Robertson wrote.
Changes to Custom Food Labels Have Negligible Effect on Prices The report noted that brands make changes to custom food product labels relatively frequently, often because of branding initiatives or other marketing strategies, as well as regulatory changes.
In an interview with FoodNavigator-USA.com, Jerry Greenfield, co-founder of Ben & Jerry's Ice Cream, echoes the research's findings, stating the cost impact of altering food labels "is essentially zero."
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