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Transparency in the market: how to solve it?

It seems that it is not that difficult but the agri-food brands still do not offer all the information about the product to the consumer. According to a recent study by Innova, the most valued trend in 2021 is market transparency. It is clear that the main brands and the leading countries do their homework better than the rest. All this is being rewarded by the consumer with more loyalty, especially during the Covid-19 pandemic.

In more emerging markets in less developed countries, the consumer continues to demand this transparency in information. All this is demonstrated, since the consumer looks for this information through the social media, confirming an unmet need. This transforms into a competitive advantage for all those brands that have no problem in offering information in a simple and transparent way.

olive oil against coronavirus market transparency
Olive oil, a staple of the Mediterranean diet

According to the Innova study, 85% of global consumers say that information about food content is of great importance to them. This information is vital when making a purchase decision. On the other hand, according to the same study, 59% of consumers is interested in knowing the the origin of the product. The same percentage that is interested in knowing as elaborated.

The importance of quality and values

As indicated LuAnn Williams, Director of Global Knowledge at Innova, Market Insights, "These higher levels of transparency generate more trust in brands." Williams adds that "it is very important for the consumer to know the ingredients, the formulation, where it is manufactured and the impact its production has on both the environment and society."

Concepts like sustainability and ecology They are of vital importance and it is already marking the differences between brands and their reputation. Also values such as the origin and proximity they are very important, as consumers increasingly value short supply chains. In this way, labels are very important to have a sustainable and ethical product assessment, two concepts of great importance. These are closely linked to concepts such as animal welfare and respect for people.

differences between sparkling wines
Sparkling wine bottle being served

For the consumer it is increasingly important that after the purchase they feel good, that is, that their purchase is aligned with their values. All of this leads us to purchase decision leans, more and more, on products more natural, without additives, without transgenic... Also with less fat, sugar or alcohol and that they can have all the information about it quickly and easily.

The solution for that transparency in the market

It is significant that many producers and processors of the sector strive for it and consider these values ​​in their production. However, they are not able to communicate it to the consumer successfully, losing or not getting the trust they deserve. The QR code labels they are a great possibility to attach all this information. Services like FoodXain They allow to have all the information that the producer wants to contribute to the consumer. This type of service allows there to be a third party that can validate the information impartially, using the technology blockchain. Without a doubt, this is a generator of trust and customer loyalty. In other words, without impartiality there is no credibility and trust cannot be built.

These services, as is the case with FoodXain, allow the consumer to show the traceability and cold chain, in addition to being able to explain and describe the product. Currently, almost 50% of consumers interested in product information would access QR codes to have more information. However, brands do not know how to take full advantage of it. The case of the White marks that still do not inform their consumers with quality. In this way, they only reinforce the price as a reason for purchase and disregard the needs of information that the study puts in value.

certification for FoodXain products
Two people verifying with their mobile using FoodXain

Pending subjects

It is also a pending issue for many high-value products, either due to its exclusiveness, its preparation or the type of user it is intended for. This is the case of infant feeding or for people with some disease or intolerance. Also of the products gourmet or Premium. All this can create high-value consumer doubts about whether the product is made in the right way.

In short, we must be More demanding in knowing what we buy and motivating all the great producers and quality elaborations that comply with that transparency in the market, for the good of us and your brand.