Understanding consumers to inform market interventions for Singapore’s shark fin trade

Abstract

AbstractSharks, rays and their cartilaginous relatives (Class Chondricthyes, herein ‘sharks’) are amongst the world’s most threatened species groups, primarily due to overfishing, which in turn is driven by complex market forces including demand for fins. Understanding the high-value shark fin market is a global priority for conserving shark and rays, yet the preferences of shark fin consumers are not well understood. This gap hinders the design of evidence-based consumer-focused conservation interventions.Using an online discrete choice experiment, we explored preferences for price, quality, size, menu types (as a proxy for exclusivity) and source of fins (with varying degrees of sustainability) among 300 shark fin consumers in Singapore: a global entrepot for shark fin trade.Overall, consumers preferred lower-priced fins sourced from responsible fisheries or produced using novel lab-cultured techniques. We also identified four consumer segments, each with distinct psychographic characteristics and consumption behaviors.These preferences and profiles could be leveraged to inform new regulatory and market-based interventions regarding the sale and consumption of shark fins, and incentivize responsible fisheries and lab-cultured innovation for delivering conservation and sustainability goals.In addition, message framing around health benefits, shark endangerment and counterfeiting could reinforce existing beliefs amongst consumers in Singapore and drive behavioral shifts to ensure that market demand remains within the limits of sustainable supply.