Disclosure legislation is appearing more frequently as consumers increasingly demand transparency from brands into the products they buy. The California Cleaning Product Right to Know Act, the FASTER Act for sesame labeling, the National Bioengineered Food Disclosure Standard (NBFDS), and now proposed legislation for using the term “healthy” on packaged foods all require brands to disclose various information about their products. And new disclosure regulations are sure to come.
Label Insight contributes data to articles often, sourced from our platform of more than 22,000 high-order attributes per product across food & beverage, household products, and pet. We're proud to have given a nugget of data to fuel the below Market Watch story, operated by Dow Jones, about businesses leveraging the on-package claim that they're women-owned.
“When digital transformation is done right, it’s like a caterpillar turning into a butterfly, but when done wrong, all you have is a really fast caterpillar.” — George Westerman | Principal Research Scientist with the MIT Sloan Initiative on the Digital Economy Transparency bar is set The FMI and Label Insight Transparency Imperative report has clearly demonstrated that demand for more information in the grocery shopping experience is taking off. Almost all shoppers these days require more information in the shopping experience, and there’s been a 90% increase in shoppers who would switch brands based on level of transparency (74% in 2018 vs. 39% in 2016) which seems to indicate that the demand is growing in distribution and in intent.
“Transparency may be the most disruptive and far-reaching innovation to come out of social media.” — Paul Gillin in Digital Darwinism: Branding and business models in jeopardy Transparency crosses all generations We are constantly being reminded of the differences between generations, and in particular, how different the younger generation truly is. But when it comes to the demand for transparency, the recent FMI and Label Insight Transparency Imperative points out that there is actually little difference across generations.
“One-third of American households have a family member who is dealing with allergies, intolerances or sensitivities.” — FMI & Label Insight - The Transparency Imperative Diet is the new norm