Welcome to the Age of Transparency.
Many shoppers today want to know more about the products they buy—more about origins, ingredients, production standards, and even “beliefs” (i.e., the socio-political values of the company behind the product).
This is especially true for shoppers with relatively high information-needs—for example, shoppers on restrictive diets or with high regard for certain socio-political causes.
As Chris Foltz, director of operations for Heinen’s grocery store chain, put it:
“Now transparency is critical. Where food comes from is huge. Huge. And it’s happening so quickly. We work very hard to be transparent...”
(Source: Grocery: The Buying & Selling of Food in America by Michael Ruhlman)
Today's shoppers often demand more than functional value. Yes, they still want products that fill their bellies and disinfect their countertops, but, increasingly, shoppers also want products they can trust.
And that's really the crux of the matter, isn't it? Transparency is ultimately about selling shoppers products they can believe in. A shared responsibility between brands and retailers alike.
Product Transparency: Surveying “High-Need” Shoppers
Earlier today, business professionals from across the country converged on Chicago for the TransparencyIQ Conference, where they discussed the role of product transparency in the modern retail environment.
Field Agent CEO Rick West presented results from a recent survey of almost 500 shoppers with high information-needs.
What, West asked the audience, is the role of in-store information on shoppers’ purchase decisions? Scroll down for the full slide deck from this informative presentation.
Additionally, Field Agent asked select “high-need” shoppers to describe the informational challenges they face when shopping. They share their stories in the video immediately below.
Power of the Package: Label Transparency
West’s presentation suggests package labeling and information play a prominent role in shopper perceptions of transparency.
Although more digitally-connected than ever, shoppers—even those with particularly pressing information needs—continue to rely on in-store information when making purchase decisions.
Below is the full slide deck from West's presentation for you to view, download, and share:
In Field Agent’s study, no more than 1-in-5 high-need shoppers (rounded) searched for product-related information prior to their store trip, while more than 3-in-4 searched for information while inside the store.
And where inside stores did shoppers primarily look for this critical product information?
On their smartphones? Nope.
Displays or shelf tags? Not primarily.
As the slide deck shows, approximately 60-70%, depending on the class of shopper, said they turned to the package label to answer their product questions.
Consequently, in this heightened age of transparency, it seems companies shouldn’t miss, as West put it, the “power of the package.”
What’s Your Transparency IQ?
More than ever, shoppers are in search of products they can believe in.
So, what exactly is your Transparency IQ? And how could your product better serve customers’ unique information needs?
In-store or at-home, Field Agent meets customers where they are to answer the questions that drive your business. Need to see your product through shoppers’ eyes? Look to Field Agent for fast, affordable, reliable solutions.
