Increase in urban middle income consumers along with consolidation of the retail sector has created changes in olive oil consumption preferences in Albania. The objective of this study is to inform stakeholders in the olive oil industry about consumer preferences. A Conjoint Choice Experiment (CCE) was used to design the survey and latent class approach used to analyze the data. The results show a strong preference for domestic olive oil and small niche markets that cater to specific consumers. The study also shows a gap between preference and reality that needs to be addressed by the stakeholders in the olive oil industry.