The Switch is On
Nearly 40 percent of millennials say that they will switch brands for transparency – so food producers that provide them with the most accurate and transparent information win.
Innovative PLM formulation and labeling process solutions as a single source of truth are the surest path to deliver complete, accurate information. Label trust must be a top priority – millennials make up more than 30 percent of our population and there are 80 million of them. They are target consumers in every industry, but particularly for food and beverage producers, they are a crucial capture for sustainable growth.
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They are the most tech savvy, they look up and verify label information in the grocery store aisle on their smart device – and their primary concern is transparency and authenticity. They value natural, ecofriendly, organic, and environmentally produced products and 73 percent are willing to pay more for those products.
Millennials demand less sugar, less fat, more fiber, no tree nuts – healthy, near perfect foods that taste great and promote a healthy lifestyle. Balance is crucial – and difficult to achieve without the proper tools.
The key for producers and manufacturers lies within their data – finding a way to accurately analyze, integrate and provide cross-functional support for the most complex aspects of recipe-based production development.
Appealing to Millennials, Gen X, Y & Z
More than 95 percent of young consumers say that labels are a huge part of their decision to make a purchase. They expect clean, concise, accurate labels that provide the information they want – down to the origin of the products – as a single source of truth.
Unfortunately, they also report that unethical practices regarding food labels have created a culture of distrust wi
th many large brands. As noted by industry experts, millennials have been a key factor in changing the way the majority of the population shops; they insist on bright, colorful food labels that are simple and easy to read, with specific information – natural, locally sourced, sustainable, aware of environmental issues – consistency and truth for all of their food purchases.
New product efficiency is imperative
Once they learn how to use their data as a strategic asset, manufacturers can increase efficiency and provide seamless, connective, end-to-end solutions for their entire product development system.
An innovative PLM platform supports rapid response, speed to market and optimizes product development along the supply chain while monitoring quality controls, regulatory compliance and specific recipe data – like Halal, Kosher, allergens and nutritional information.
In terms of transparency and availability of information, a PLM platform can be uploaded to the GDSN with a single click, setting the global stage for rapid product rollouts, new market penetration and increased sales around the world.
Nothing is more important that trust – trust provides brand loyalty across product lines and across the globe. Clean labels as a single source of truth can propel your business to substantial new heights of growth.
Industry leaders and successful organizations – manufacturers that thrive in all market conditions – understand the value of brand loyalty, and the necessity of providing customers with trusted product information.