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The Value of Craft Beer Styles: Evidence from the Italian Market

This study aims to estimate the market value, or implicit prices, associated with the main craft beer attributes (e.g., beer style, organic, gluten-free, and package-related features) and support producers in detecting the more profitable marketing strategies. For this purpose, we conducted an empir...

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Detalles Bibliográficos
Autores principales: Bimbo, Francesco, De Meo, Emilio, Baiano, Antonietta, Carlucci, Domenico
Formato: Online Artículo Texto
Lenguaje:English
Publicado: MDPI 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10047966/
https://www.ncbi.nlm.nih.gov/pubmed/36981254
http://dx.doi.org/10.3390/foods12061328
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author Bimbo, Francesco
De Meo, Emilio
Baiano, Antonietta
Carlucci, Domenico
author_facet Bimbo, Francesco
De Meo, Emilio
Baiano, Antonietta
Carlucci, Domenico
author_sort Bimbo, Francesco
collection PubMed
description This study aims to estimate the market value, or implicit prices, associated with the main craft beer attributes (e.g., beer style, organic, gluten-free, and package-related features) and support producers in detecting the more profitable marketing strategies. For this purpose, we conducted an empirical analysis employing sales data of craft beers from the Italian online market, and we estimated a hedonic price model via ordinary least squares. Results show that the type of package and cup only has moderate effects on price. Furthermore, a moderate premium price is found for gluten-free craft beers, while craft beers with organic labels and Italian origin do not benefit from the higher price. Instead, the beer style adopted strongly affected the product price: the highest premium prices were detected for Barleywine (+49.9%) and Italian Grape Ale (+39.6%) beer styles. Furthermore, relevant premium prices, higher than +25%, were estimated for other beer styles such as Sour, Fruit Beer, and Stout. Results suggest that artisanal breweries can effectively differentiate their product according to the beer style. To the best of our knowledge, the current study offers the first empirical evidence on how beer styles as well as other product characteristics affect the market price of craft beer by using secondary data.
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spelling pubmed-100479662023-03-29 The Value of Craft Beer Styles: Evidence from the Italian Market Bimbo, Francesco De Meo, Emilio Baiano, Antonietta Carlucci, Domenico Foods Article This study aims to estimate the market value, or implicit prices, associated with the main craft beer attributes (e.g., beer style, organic, gluten-free, and package-related features) and support producers in detecting the more profitable marketing strategies. For this purpose, we conducted an empirical analysis employing sales data of craft beers from the Italian online market, and we estimated a hedonic price model via ordinary least squares. Results show that the type of package and cup only has moderate effects on price. Furthermore, a moderate premium price is found for gluten-free craft beers, while craft beers with organic labels and Italian origin do not benefit from the higher price. Instead, the beer style adopted strongly affected the product price: the highest premium prices were detected for Barleywine (+49.9%) and Italian Grape Ale (+39.6%) beer styles. Furthermore, relevant premium prices, higher than +25%, were estimated for other beer styles such as Sour, Fruit Beer, and Stout. Results suggest that artisanal breweries can effectively differentiate their product according to the beer style. To the best of our knowledge, the current study offers the first empirical evidence on how beer styles as well as other product characteristics affect the market price of craft beer by using secondary data. MDPI 2023-03-20 /pmc/articles/PMC10047966/ /pubmed/36981254 http://dx.doi.org/10.3390/foods12061328 Text en © 2023 by the authors. https://creativecommons.org/licenses/by/4.0/Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
spellingShingle Article
Bimbo, Francesco
De Meo, Emilio
Baiano, Antonietta
Carlucci, Domenico
The Value of Craft Beer Styles: Evidence from the Italian Market
title The Value of Craft Beer Styles: Evidence from the Italian Market
title_full The Value of Craft Beer Styles: Evidence from the Italian Market
title_fullStr The Value of Craft Beer Styles: Evidence from the Italian Market
title_full_unstemmed The Value of Craft Beer Styles: Evidence from the Italian Market
title_short The Value of Craft Beer Styles: Evidence from the Italian Market
title_sort value of craft beer styles: evidence from the italian market
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10047966/
https://www.ncbi.nlm.nih.gov/pubmed/36981254
http://dx.doi.org/10.3390/foods12061328
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