Consumer Perceived Risk in the UK Food Market

Abstract

The theory of perceived risk has been examined in many consumer product areas but nowhere is it more applicable than in the purchase of food. Recent food scares, which have greatly increased consumers′ perceived risk and decreased demand, have been testament to its power. The numerous food scares, e.g. apple, tuna fish, babyfood and salmonella in eggs, which have taken place over the past year in the UK, are discussed and the results of a pilot study examining eight food products: restaurant meals, wine, sausages, fast food, tinned pilchards, apples, instant coffee and chocolate are reported. The order of perceived risks in purchase was the same as above, with a restaurant meal being the most risky. The most useful risk‐reducing strategy was brand loyalty, followed by reading consumer guides and then reading product information. The least useful were the use of special offers and celebrity endorsement. Companies and academics should realise the potential importance of this concept in consumer behaviour research. It is hoped that more research will be stimulated.