Product label information matters. Specifically — what you choose to put (or not put) on your label could be the determining factor on whether or not a customer chooses to buy your product over your competitor’s.
According to a Trace One Network study, 40% of consumers said they’d be willing to pay for more a product if the product label listed more detailed ingredient and allegory information.
Label transparency matters.
The Trace One Network, a private brand product lifecycle management (PLM) solutions and transparency software, released the results of its “Global Consumer Food Safety and Quality” study.
The study revealed that only 12% of consumers said they “wholeheartedly” trust the safety of the brands they consume.
“In fact, more than a quarter (27 percent) of consumers do not even trust the information on food product labels,” the Trace One Network states.
“The good news is that consumers worldwide have embraced the value of private brands, but the bad news is that they still do not trust the quality, safety and ingredient documentation of any food brand – be it private or National,” said Chris Morrison, CMO of Trace One. “Consumers are demanding more information and want reassurances that the foods they’re eating are safe – and originating from reliable sources. Brands that go above and beyond to share accurate and reliable product information with consumers will ultimately be rewarded with increased consumer trust.”
From the Trace One Network:
Key findings of the “Global Consumer Food Safety and Quality” research also include:
- •Of those consumers who do not buy private brands, 25 percent named fewer choices and 24 percent cited lower food quality as their top reasons.
- •An overwhelming majority of respondents (91 percent) say it’s important to them to know where their food comes from, but nearly two-thirds (62 percent) say they’re not provided with enough information about what’s in their food and its origins
- •84 percent of respondents believe food retailers and manufacturers are responsible for private brand food quality and safety
- •More than one-third (36 percent) believe food retailers or manufacturers don’t act quickly enough or provide timely information during health scares
While your brand may not be a private label brand, there’s still a lot you can learn from these survey results.
Consumers want more information about the product they’re buying. They want to know the ingredients in the products they’re purchasing, they want to know what allergy interactions, they don’t want to read false health claims, they want to know where their products are made and where the products are sourced.
When designing your product label, keep it honest and you will build a brand consumers trust!
