(Source: Retail Customer Experience | September 24, 2018)
A report from the Label Insight and Food Marketing Institute titled The Transparency Imperative revealed that retail, grocery and restaurant consumers love transparency so much it can result in a stronger brand loyalty.
It states that 75% of consumers are more likely to switch to a brand that provides more in-depth product information, beyond what’s provided on the physical label and 86% agreed that if food manufacturers or retailers provided access to complete and easy to understand definitions for all the ingredients, it would result in more trust.
Moreover, more than half of shoppers or 54% are even willing to pay more for a product that has additional product information, according to a release on the report.
“The new shopper mindset requires brand owners to think about their products well beyond the traditional label and respect a more digitally-minded consumer,” FMI Vice President, industry relations, Doug Baker said in the release.
“The study offers several considerations for how to make the best use of these findings, but overall, they require companies to recognize and communicate the importance of transparency and perform a thorough review of their unique consumer audiences and commerce channels.”
The report surveyed 2,022 U.S. grocery shoppers 18 years of age or older.
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