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Thursday, 05 November 2020 13:31

Almost 60% Americans ready to pay more for locally made products: Survey

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In the Reshoring Institute’s survey of 500 people, 59.83 percent respondents were willing to pay more for a product made in the US, while 21.53 percent were not. Around 69.42 percent respondents preferred US made products while 14.5 percent did not.

Nearly half the respondents were willing to pay 20 percent or more for US-made products: 32.83 percent said they’d pay 20 percent more, 10.1 percent said 25 percent more, 2.78 percent said 30 percent more and 3.79 percent said 50 percent more. Around 46.28 percent of respondents thought products made in the US were of better quality, while 21.9 percent did not and 31.61 percent were unsure; 57.35 percent said the origin of the product affected their purchase decision, 26.92 said it did not and 14.91 percent were unsure; and 59.83 percent believed the “Made in” information on product labels, 10.97 percent did not and 29.19 were unsure.

The Reshoring Institute data comes amid an emerging negative consumer sentiment toward Chinese products. A Coresight Research survey conducted in early June found as many as 47.8 percent of respondents said they either agree or strongly agree that US retailers should source fewer products from China. In light of the pandemic and the sentiments that have emerged surrounding it, 39.7 percent said they are now less willing to buy Made in China products