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A DEMAND ANALYSIS FOR CRUSTACEANS AT THE U.S. RETAIL STORE LEVEL

A DEMAND ANALYSIS FOR CRUSTACEANS AT THE U.S. RETAIL STORE LEVEL This study used a LA/AIDS model to estimate demand system for crustacean species, shrimp, crab, crawfish and lobster at the U.S. retail store level. Shrimp demand is price elastic; crab, crawfish and lobster are price inelastic. Shrimp price significantly affects market shares of crustacean products. Shrimp has more substitutes than other crustaceans, and lobster has less substitutes than others. The demand for crab and lobster grow faster than the demand for shrimp and crawfish when expenditure increases. Promotion has positive effects on market shares and sales volume of own products and negative effects on cross-products. Shrimp price-reduction promotion strategies will be effective in term of raising shrimp sales value. Marketing programs that increase consumers’ marginal utility with an additional small increase in the selling price of crab, crawfish and lobster products will be feasible, and bring higher sale values. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Aquaculture Economics & Management Taylor & Francis

A DEMAND ANALYSIS FOR CRUSTACEANS AT THE U.S. RETAIL STORE LEVEL

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A DEMAND ANALYSIS FOR CRUSTACEANS AT THE U.S. RETAIL STORE LEVEL

Abstract

This study used a LA/AIDS model to estimate demand system for crustacean species, shrimp, crab, crawfish and lobster at the U.S. retail store level. Shrimp demand is price elastic; crab, crawfish and lobster are price inelastic. Shrimp price significantly affects market shares of crustacean products. Shrimp has more substitutes than other crustaceans, and lobster has less substitutes than others. The demand for crab and lobster grow faster than the demand for shrimp and crawfish when...
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Publisher
Taylor & Francis
Copyright
Copyright Taylor & Francis Group, LLC
ISSN
1551-8663
eISSN
1365-7305
DOI
10.1080/13657305.2013.812157
Publisher site
See Article on Publisher Site

Abstract

This study used a LA/AIDS model to estimate demand system for crustacean species, shrimp, crab, crawfish and lobster at the U.S. retail store level. Shrimp demand is price elastic; crab, crawfish and lobster are price inelastic. Shrimp price significantly affects market shares of crustacean products. Shrimp has more substitutes than other crustaceans, and lobster has less substitutes than others. The demand for crab and lobster grow faster than the demand for shrimp and crawfish when expenditure increases. Promotion has positive effects on market shares and sales volume of own products and negative effects on cross-products. Shrimp price-reduction promotion strategies will be effective in term of raising shrimp sales value. Marketing programs that increase consumers’ marginal utility with an additional small increase in the selling price of crab, crawfish and lobster products will be feasible, and bring higher sale values.

Journal

Aquaculture Economics & Management – Taylor & Francis

Published: Jul 3, 2013

Keywords: crustacean demand; price and expenditure elasticity; promotion

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