For a food cost comparison that reaches around the world, Buzzfeedvideos has released a video that compares how much of certain types of foods one can purchase for five dollars from different countries.
In order to make the comparisons relatable and accessible to most people, common foods such as bananas, coffee, rice and beer were chosen as the subjects of this review. Not surprisingly, there are divergences in food prices, but this direct contrast shows just how huge the differences really are. In China, for example, you can get a dozen beer for five bucks while in Japan you can only get one.
Before your next trip, check out this eye-opening food cost comparison video.
Key Themes Behind This Trend
- Global Food Prices Comparison
- Opportunity for multinational food retailers to examine and develop pricing strategies that are optimized for different regions and cultures.
- Economic Disparities in Food Accessibility
- Opportunity for governments, NGOs, and social entrepreneurs to identify and address gaps in food accessibility and affordability across the globe.
- Consumer Education on Global Food Market
- Opportunity for educational institutions and media companies to inform consumers about diverse food markets and prices around the world.
Where This Applies
- Multinational Food Retail
- Insight for companies to design strategies to set competitive pricing for similar products in different countries.
- Government and Ngos
- Possible policy interventions can be considered to manage food accessibility and affordability.
- Media and Education
- Opportunity for media agencies and learning institutions to provide educational content to consumers on food sustainability and international trade.
