The Value of Buying American Made Merchandise
Strong Consumer Demand for American-Made Products
A comprehensive report by Morning Consult in 2023 reveals that nearly two-thirds of U.S. consumers actively seek out "Made in America" products, demonstrating a robust demand that has persisted despite economic challenges such as inflation and rising interest rates. This unwavering consumer interest underscores the importance of aligning your business with the values of your target market, offering them the American-made merchandise they desire.
Willingness to Pay a Premium
While price sensitivity exists, a significant portion of the American consumer base is willing to pay more for products made in the USA. The Morning Consult report indicates that many consumers are prepared to pay up to 10% extra for "Made in America" goods compared to their foreign-made equivalents. This willingness to pay a premium reflects the perceived value of American-made products, including quality, safety, and support for the national economy.
Benefits of Manufacturing in the U.S.
Manufacturing your merchandise in the United States offers several advantages that can enhance your business's efficiency and reputation. By keeping production domestic, you can ensure tighter control over the manufacturing process, adhere to strict safety and quality standards, and reduce logistics costs and lead times. These benefits not only improve your product's quality but also enhance customer satisfaction by delivering goods more quickly and reliably.
Supporting the Local and National Economy
Choosing American-made merchandise contributes to job creation and supports the local and national economy. Manufacturing in the U.S. provides higher wages for workers and ensures that your taxes contribute to community development and national infrastructure. By promoting these economic benefits, you can appeal to consumers' sense of patriotism and their desire to support American workers and businesses.
Navigating Challenges
It's important to acknowledge the impact of inflation on consumer purchasing behavior. A Retail Brew/Harris Poll survey found that while a majority of Americans seek out and are willing to pay more for American-made products, inflation poses a challenge to their ability to do so. However, the survey also revealed that nearly half of the respondents are still willing to pay a premium for domestically made goods, highlighting the importance of transparent communication about the value and benefits of your American-made merchandise.