On average, retailers are failing to return 92% of qualifying products on their e-commerce sites, meaning for every 10 products that could be returned, today, retailers are only returning one. This gap is due to incomplete, siloed, and poor quality data. With over 200 million shoppers adhering to a diet or health-related eating program and nearly as many indicating food allergies and intolerances affect the way they shop, inaccurate and incomplete data is not only costing retailers billions of dollars, but also damaging shopper trust and loyalty.
With 200 million consumers adhering to a particular diet or health related eating program, and nearly as many indicating that a food allergy or intolerance affects the way they shop, need-state shopping is big business.
Approximately 1 out of 5 products online fail to include critical information including nutrients, ingredients, and warnings according to a recent audit of grocery e-commerce sites. By not delivering this information, retailers are providing a broken experience for consumers searching for products based on their needs and missing out on potential sales. In primary research Label Insight conducted with the Food Marketing Institute (FMI) last year, 44% of shoppers said a food allergy, sensitivity, or intolerance affects the way they shop, and 49% adhere to a diet or health-related eating program. In a refreshed study to be published later this month, we’ve seen those figures continue to grow as high as 55% and 65% respectively. Now, more than ever, consumers are craving clarity and detailed product information to fulfill their diverse preferences when grocery shopping online.
Outside of being so closely attached to product data in my role, about eight months ago, I relocated from St. Louis to Label Insight’s headquarters in Chicago. With it came a new set of regional retailers. I traded in Schnucks and Dierbergs for Mariano’s and Jewel, although I’ve still managed to locate my nearest Target for my extensive shopping trips that go far beyond the pantry. While I knew the demand for consumer transparency and retailer differentiation were both on the rise, I decided to dig into what 2019 and beyond held for some of my favorite retailers (and it wouldn't be a Label Insight blog post without a little data).
Are you in the holiday spirit yet? We here at Label Insight sure are! We decided to take a look into our database to see just how winter spirited we are. So grab a mug of hot chocolate and cuddle up by the fire as we dive into Label Insight’s product database.
It’s no secret that Americans have become increasingly more health-conscious across all areas of life. But we’ve recently found that the presence of children in a household often creates a greater desire to know and understand more about the food being served to the entire family. Recent research suggests that parents place greater importance on knowing more information about ingredients, nutrition, health benefits and other product information when deciding what products to buy.
President Obama has signed the GMO labeling bill into a law. The mandatory disclosure of the use of GMO ingredients is the latest reaction to an ongoing consumer mandate for transparency from brands and manufacturers. Image via International Rice Research Institute