No less than 75% of the 3,500 adults surveyed worldwide by Akeneo between February 3 and 10, 2021 are not entirely satisfied with the quality of the product information made available to them, including 7% who say the information is usually very bad or somewhat bad.
This shortcoming can have significant consequences for sellers, including lower conversion rates, fewer repeat customers, abandoned purchases and more, according to Akeneo. surveyreleased this morning.
For example, Akeneo found that 72% of consumers would buy another product because of bad product information and 74% would stop buying a brand because of bad product information.
Additionally, four in five consumers say they’ve abandoned a planned purchase due to poor product information, and more than half have returned a product due to poor product information, Akeneo found.
While 32% of consumers who have abandoned a product for lack of information say they have purchased the same product through another sales channel, where they apparently have access to better information, 36% have instead opted for another product and 26 % don’t buy anything at all, survey reveals.
As quick as consumers are to punish brands and retailers for providing insufficient or inaccurate product information, they are ready to reward those who meet or exceed their expectations. According to Akeneo, half of consumers are willing to pay more for good product information.
Strategies to improve communication
One of the best ways to meet consumer expectations for information is to start with claims, narrative and key information shared on product packaging, as this is fundamental to how products are presented. not just in-store, but online through retailer websites and search engines, says IRI. Executive Vice President and Climate Knowledge Practice Lead Sally Lyons Wyatt.
“Product labels are influencers”she told attendees not once — but twice — late last week during a webinaron the state of snacking in 2021 and beyond.
“Your product package is the last billboard you have online. It’s the biggest billboard you have and you need to make sure that if you’re a retailer your images can be rotated and you “You can see all sides. If you’re a manufacturer, work with that retailer, make sure they have the right images and have the right attributes aligned with your products,”she explained.
Emphasizing repeatedly “it’s so important”She noted that IRI data revealed that 55% of consumers are influenced by product labels and packaging, including 61% of 18-24 year olds and 61% of 35-44 year olds.
Clearly communicate company values
Beyond providing accurate product information, companies also increasingly need to communicate their values through product information and across shopping channels to let consumers know where they stand, boost sales and potentially increase prices, Akeneo’s survey results suggest.
“The presence of brand values in product information would encourage more than one in two consumers to pay more for a product that incorporates them”,According to Akeneo, 10% of survey respondents would pay up to 50% more for products from a company that shares its values, while 82% would pay a premium of 30% or less.
At the top of the list of brand values that consumers told Akeneo they wanted to see on product information were certificates and quality labels (62%), followed by brand and product history (50%). ), respect for the environment and sustainability (49%) and the origin of the product (46%).
As for certificates and seals of quality, Lyons Wyatt noted that those concerned with sustainability are increasingly important to shoppers looking for snacks. For example, she said, 44% of consumers say they want reduced packaging to be more environmentally friendly – up 6 points from 2018, and 38% say they want snacks in biodegradable packaging – up 7 points compared to 2018.
To find products that meet these standards, consumers rely on products with sustainable certifications, including recyclable (11%), certified sustainable (12%), post-consumer recycled material (7%), and Rainforest Alliance certified ( 5%).
Beyond sustainability, IRI found that 11% of consumers seek ethical certifications, 20% for Fair Trade, 26% for Cage Free, 25% for B Corporation and 104% for Humanity, said Lyons Wyatt.
Finally, when it comes to product origin, IRI found that domestic snacks are seeing double-digit interest, with those bearing the “Made in USA” label increasing by 10%.