HEDONIC PRICE OF WINE AT RETAIL MARKET IN COSTA RICA

Abstract

In Costa Rica, the consumption of wine has increased as an increasingly frequent beverage option during meals and celebrations, it has also been consolidated as part of a gastronomic culture that, in addition to enjoyment, is considered to have high properties for the health when consumed in moderate amounts. Due to the growth of the local wine market and changes in preferences, as well as the need to generate information in this field, this research aims to determine the attributes that influence the retail price of wine in Costa Rica. An econometric approach was used to model hedonic price behavior. The results showed that the price of wine is significantly affected by attributes such as origin, packaging characteristics, type of grape, market segment and type of supermarket where it is purchased.

Keywords

• consumption
• econometrics
• forecasting
• hedonic pricing
• market research