Americans, Chinese willing to pay more for U. S. products
A recent report prepared by Penton Media Design Engineering and Sourcing Group (parent company of Machine Design), OEM Outlook: Marketing intelligence for OEM suppliers, found that 8 out of 10 U. S. consumers are willing to pay more for products labeled “Made in USA” than for those made in China. And 6 out of 10 Chinese consumers are willing to pay more for American-made products. Some of the reasons listed by U. S. consumers for paying up to 60% more for American-made goods are “quality” and “patriotism.” Some of the goods U. S. consumers prefer to be American-made include apparel, appliances, baby food, and electronics. The report also says that 14% of American companies are moving some manufacturing back into the States. Companies cited rising shipping rates, quality problems, and the intangible costs of having factories so far from headquarters.
The report also looks at engineering and manufacturing trends in the U. S., what design and engineering equipment companies are using, and evaluates a host of high-tech industries and markets including robotics, medical equipment, motion control, and nanomaterials.
Resources: For a copy of the report, e-mail your request to Julie Ritchie at [email protected] and put OEM Report in the subject line.