As President Trump touts American-made products, a new study shows that U.S. adults want to buy American, most consumers are on board, but they only want to pay a premium of 15% in doing so.
Here's the skinny.
According to a new study from ReportLinker.com, 57% of Americans say they'll gladly pay more to purchase American-made products, which should be music to the ears of the Trump administration, which is pushing hard on its fledgling "Buy American, Hire American" initiative.
In the ReportLinker survey, over 50% of survey participants say they believe local products "are better quality than goods imported from elsewhere."
"This is especially true among older generations, 59% of whom feel that way," ReportLinker states. "For those consumers who consider origin when buying a product, they're more likely to believe US-made products are higher quality. They prefer to buy American food (64%), beauty and personal care (69%), and clothes (66%) for this reason."
Another 57% say they "value local products and are willing to pay more for them."
But it's the 15% "premium ceiling" that Americans are willing to pay for domestic goods that really stands out.
According to ReportLinker's survey, 80% of those who are willing to pay extra say they're willing to pay a 15% premium, and more than half of respondents said they'd spend 30% more for electronics made in the U.S.
Unsurprisingly, the individuals backing the "Buy American" initiative consider themselves patriots, and are backers of President Trump. In fact, just ask one - he or she will proudly tell you all about it.
"As a former single mom who went through two separate, two-year layoffs years ago, I support President Trump's push to buy American products if and when possible," says Mary Kaarto, a resident of Missouri City, Texas. "The U.S. is a beautiful tapestry of a country filled with a multi-ethnic population among its citizens. We all deserve the opportunity to work to provide for ourselves and our families."
Kaarto says she recently began the practice of closely reading all labels of everything she buys, to see if it's been made in America. "I'll even buy different brands or pay higher prices in order to do so," she adds.
Not everyone is on the same page, as some consumers and business owners cite pricing and availability as obstacles to truly buying American.
"My general impression is that "American-made" is a nice to have, but not a necessity for most consumers," says Andrea Borcea, owner of the Clever Element boutique in Carlsbad, Calif.