What do shoppers want?
NielsenIQ survey data shows that 79% of FMCG shoppers are interested in learning more about a product than what is written on a physical label. They want to know if products contain specific allergens, adhere to certifications and claims, or align with values like animal welfare, fair trade, and labour practices.
Furthermore, 72% of shoppers would be more likely to buy products with in-depth product information, and more than half would be willing to pay more for a product that provided this additional information.
Simply put: the more product information brands can provide online, the better.
What happens when brands don’t go beyond the label?
The less information a brand supplies beyond its label, the less trust they earn from shoppers. This leads to lower brand-loyalty and lower conversions and sales. Studies show a strong link between enhanced product information and shopper trust.
But what information, specifically, is the modern omnichannel shopper looking for?
The topic of sustainability has dominated the grocery retail conversation, from trade headlines to the stages at this year’s biggest retail events.
This conversation is driven by a growing environmental and community consciousness among consumers. In fact, 69% of shoppers are interested in learning more about a product’s sustainability credentials. Brands that only offer standard nutritional and marketing information on product packaging will lose market share to those who clearly communicate how their products contribute to a better world.
Across retail categories, NieslenIQ data finds that brands overall see only positive impacts to sales and conversions after enhancing their availability of product information. Only 2% of companies across the globe report negative impacts. In other words, brands have little to lose and much to gain by being transparent with product information.
What can brands do to gain trust?
A lack of transparency around sustainability in the modern climate will leave shoppers to fill in the gaps, and, at worst, assume that a brand has something to hide. Furthermore, studies show that if shoppers can’t find their desired information from one brand they’re willing to find an alternative.
The key message for FMCG brands: your shoppers want more information, and they want it to be easy to access and understand. Enhancing product content with visual features like GIFs, lifestyle photos, and product videos, is a great place to start.