Keywords: fair trade products, fair trade brands, Turkey, Austria, cross-cultural comparison, consumer perceptions, price elasticity
Consumer perception of fair trade: a cross-cultural study
The term of fair trade basically explains the fair exchange of goods and money between producer and consumer without ignoring the quality and price balance. The fair trade concept gains an importance by globalisation; the basic idea is to protect local production. The most well-known fair trade products are the agro-cultural ones like coffee, cacao and cotton, which are usually produced in special climate habitats but consumed all over the world. The fair payment to the producers usually causes a price increase of the fair trade products compared to the market averages. In this situation, the consumer response to the product, brand and the companies' fair trade applications gains another importance. The price elasticity of the product and the consumer perception may depend on many factors. The aim of this study is to see the major knowledge and perception differences of Turkish and Austrian consumers towards fair trade products and brands.