How Product Transparency is Shaping Consumer Choices.

In today's consumer-driven world, the choices we make as shoppers extend far beyond price and convenience. An increasing number of consumers are taking a closer look at the sustainability and ethical practices associated with the products they buy. This shift in consumer behavior has significant implications for consumer packaged goods (CPG) companies, and it's a trend that's only expected to grow. In this blog post, we'll explore the importance of product transparency and sustainability, as highlighted in a recent report by McKinsey and NielsenIQ, and introduce you to Tracifier, a game-changing solution that's revolutionizing transparency for CPG brands.

Consumers Are Voting with Their Wallets

The era of consumers simply buying products based on their features and price is gradually fading. Today's shoppers are increasingly informed and conscious about the environmental, social, and governance (ESG) aspects associated with the products they choose. This shift in consumer mindset is evident in the data collected by McKinsey and NielsenIQ.

According to their research, products making ESG-related claims have averaged an impressive 28 percent cumulative growth over the past five years. In contrast, products that made no such claims only achieved 20 percent growth over the same period. This substantial difference in growth rates clearly indicates that consumers are not only interested in sustainability and ethical claims but are also willing to back it up with their spending.

Introducing Tracifier: Revolutionizing Transparency for CPG Brands

In a world where consumer preferences are rapidly evolving, CPG brands must adapt to meet the demand for greater transparency and sustainability. This is where Tracifier steps in with its cutting-edge solution, the Product Transparency & Sustainability Wallet.

Tracifier's innovative wallet is empowered by web3 technology, enabling CPG brands to enhance transparency, trust, and customer satisfaction. This platform empowers brands to provide a deeper level of product information to their customers, addressing their concerns about sustainability, sourcing, and authenticity.

Here's how Tracifier's Product Transparency & Sustainability Wallet works:

1. Effortless Product Certification Tracking: With Tracifier, CPG brands can easily track and display product certifications related to sustainability, ethics, and more. This information is readily available to consumers, ensuring they are making informed choices.
2. Combatting Counterfeits: Tracifier's digital product wallet enables brands to authenticate their products, reducing the risk of counterfeits entering the market. Customers can verify the authenticity of the products they purchase, adding an extra layer of trust.
3. Enhancing Customer Engagement: By sharing authentic and transparent product information through the wallet, CPG brands can engage with their customers on a deeper level. Customers can learn about the journey and sustainability practices behind each product, fostering a sense of trust and loyalty.

Tracifier's Product Transparency & Sustainability Wallet is a game-changer for CPG brands looking to meet the demands of today's conscious consumers. It not only helps brands to align with consumer values but also fosters meaningful connections through seamless product information sharing.

As the McKinsey and NielsenIQ report highlights, consumers are indeed putting their money where their values are. Products with ESG-related claims are experiencing impressive growth, and Tracifier is here to empower CPG brands to join this sustainability-driven movement.

In conclusion, product transparency matters more than ever in the CPG industry. Consumers are seeking products that align with their values, and CPG brands that embrace transparency and sustainability are reaping the rewards. Tracifier's innovative solution is at the forefront of this movement, enabling brands to revolutionize transparency, enhance trust, and build lasting connections with their customers. It's time for CPG brands to embrace the future of product information sharing and empower consumers to make informed, ethical choices.

Contact us for more information on how we can help you with product transparency using the Tracifier solution:

[email protected]

www.tracifier.com

Source to Mckinsey research: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/consumers-care-about-sustainability-and-back-it-up-with-their-wallets