Market Research on Product Transparency
Thank you for your interest in my first blog of my new company Datafastlane, Your Product Transparency Architect. Since a few years already, I have been inspired by the power of Product Transparency.
Product Transparency is the missing link between, the sustainability efforts of a company and their customers .
It offers new communication channels to create more trust. At the other side, by sharing data between supply partners, it also offers means for more efficiency.
A few months ago, I found a market research study exactly on this subject, published by
- Futerra ( an international sustainability strategy and creative agency with offices in London, New York and Stockholm) and
- www.theconsumergoodsforum.com (we are a CEO-led organisation that helps the world’s retailers and consumer goods manufacturers to collaborate, alongside other key stakeholders, to secure consumer trust and drive positive change, including greater efficiency).
They surveyed consumers and 70 companies worldwide.
Here some results:
- 91% of business leaders believe that transparency builds trust
- 55% of consumers demand more information on social,health, environmental and safety issues
They also explain why business transparency alone isn't sufficient (this is communication towards experts). Businesses also need to communicate proof of their sustainability level to consumers.
And they give some really inspiring examples by other companies.
Please read the full article here. https://www.theconsumergoodsforum.com/wp-content/uploads/2018/10/CGF-Futerra-Transparency-and-the-Honest-Product.pdf