Label Insight Reports Strong Customer Momentum for Transparency Initiatives in Q2
CHICAGO, July 25, 2017 /PRNewswire/ -- Label Insight, the market leader for product transparency, today announced strong customer growth in Q2 2017 for its data transparency solutions. The company has inked deals with several new CPG manufacturers and retailers that will help those organizations respond to the consumer mandate for greater transparency.
Industry leaders who have committed to boosting their transparency initiatives with Label Insight last quarter include:
- Allegiance Retail Services/Foodtown
- Okanagan Specialty Fruits
- Ocean Spray Cranberries
Consumer demand for product transparency is reaching a groundswell. Market research connects product transparency to increased brand loyalty and greater market share, with 73 percent of shoppers reporting they would pay more for products offering complete transparency.
"There is a new landscape for brand loyalty, one where manufacturers and retailers must meet consumer expectations for product information or expose themselves to the consequences," said Ronak Sheth, chief customer officer for Label Insight. "In this environment, consumers want that information delivered instantly via digital channels, and Label Insight is helping these brands develop a new dynamic of trust with their customers. We are excited to support the transparency efforts of these highly regarded companies."
Label Insight empowers the entire CPG and Retail industry with their technology to enable deep insights, power legacy systems, and activate solutions that deliver product transparency to consumers. Label Insight's SmartSPEC solution for SmartLabel™ provides CPG manufacturers and store brands with an easy and efficient solution to participate in the industry leading transparency initiative. By working with Label Insight, retailers are able to improve the shopping experience for their customers by providing the right information at the right time in the right channel, whether it be e-commerce or in-store, and providing a better omni-channel experience.
Additionally, Label Insight's Open Data Initiative has added six new academic, government and research institutions who can now access Label Insight's granular food product data for research purposes. Corvus Blue, The George Institute for Global Health, INSEAD Business School and the NYC Department of Health can now produce data-rich research designed to impact and improve food and nutrition policy, as well as influence food manufacturers' choices when creating or reformulating their products.
"There is a worldwide need for more research on our food supply and the impact to our health," said Dagan Xavier, co-founder of Label Insight. "Label Insight is committed to supporting critical research topics that impact health and dietary issues by providing free access to our rich ingredient data. We also support the use of our data to monitor adverse nutrients in the food supply and determine the impact of food policy. We are thrilled to see more institutions seek out access to our data for these purposes."
About Label Insight: Label Insight is the market leader for transparency, enabling access to complete and accurate product information for more than 400,000 products, representing 80 percent of the top purchased CPG products in the U.S. The company's product transparency engine powers data driven solutions for brands, retailers, researchers, analytics providers, government agencies and consumer applications by capturing and enhancing data contained on the packaging and labeling of food, pet, and personal care products. Label Insight customers use this data to provide greater transparency to consumers; easily participate in industry and government initiatives, such as SmartLabel; create more connected omni-channel experiences; and maximize category growth potential.