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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...
Autores principales: | , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
MDPI
2023
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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. |
format | Online Article Text |
id | pubmed-10047966 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2023 |
publisher | MDPI |
record_format | MEDLINE/PubMed |
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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