A recent New York Times story indicates that as much as 20% of fish sold in the U.S. is labeled incorrectly, with regard to the type of fish that is being sold. Click here to see the story. The practice allows to overfishing of protected species, and/or cheaper fish being sold under the guise of a more expensive filets.
Implications: If this issue is beginning to receive such broad coverage, one might wonder why the fishing industry, itself, isn’t doing more to self-regulate the appropriate labeling of seafood. Especially now that DNA bar coding (as it is referred to in the article) is possible… and especially since this kind of unscrupulous behavior could cause consumers to choose from something else on the menu, harming the overall industry/category.
If something like this were discovered in your industry or category, how would you respond? Can you verify/certify that your ingredients are authentic and your suppliers are trustworthy? Something to think about in an age of greater transparency.
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.
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