Peer feedback can decrease consumers' willingness to pay for food: Evidence from a field experiment.

The vast majority of consumer products fail to attract sufficient consumer demand. Word of mouth marketing and online feedback from other consumers have become focal marketing strategies for many products as social media has increased the size of networks and amplified the impact of messages from other consumers. The current literature on the influence that consumer feedback can have on consumers' willingness to pay (WTP) for food products is mixed and often draws upon studies with small samples and hypothetical situations.