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Office of Survey Methods Research
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Published Year: 2018
Survey/Program(s): Office of Prices and Living Conditions
Catalog: Economic Working Paper
WP Number: WP-501
Publication Status / Disposition: Office of Prices and Living Conditions (June 2018).
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Early Adopters of New Supermarket Products
Abstract
New goods and expanding product variety are thought to provide enormous welfare gains. New products can infuence the pricing of competing products, but often the most important way that new products improve the welfare is through their direct consumption value. The demographic profile of the buyers of new goods suggests those welfare gains are unequally distributed. For supermarket products in the US, expenditures on new goods are disproportionately concentrated among high earners and younger consumers.