‘91% of corporate experts say transparency increases shopper trust’: report & roundup

Knowing who makes the products we buy and the impact on them is a key factor.

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70% of consumers are most interested in transparency about products, rather than the companies who made them

(Source: Futerra)

Last week Futerra and The Consumer Goods Forum released a report showing how product transparency is the most important factor for building shopper trust. By surveying 130 corporate experts from 70 companies and over 3500 shoppers from 7 markets they detail the landscape of transparency.

55% of shoppers think businesses should provide more information on social, health, safety and environmental impacts of their products. Yet 86% of business leaders already think they are doing enough this report highlights this huge disconnect.  

As Tony Henshaw, Chief Sustainability Office of Aditya Birla Group puts it: “To build sustainable value chains, we will have to provide consumers with the information they need to make decisions. That means we need to map our value chains and build higher levels of transparency over time.”

Why this matters:

Product transparency is at the heart of what we do at Provenance. As the report shows there is shopper demand for this information and commercial advantages to establishing that trust. This transparency will become the minimum requirement to remain competitive with a new generation of shoppers.

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‘By 2050 there could be more plastic than fish in the ocean’: businesses sign commitment to New Plastics Economy targets tackling plastic at source

(Source: New Plastics Economy)

Last week, 13 organisations spanning government and businesses (including Unilever, Danone & Colgate-Palmolive) signed an open letter calling on others to support the New Plastics Economy Global Commitment. This unites 250 signatories behind a common vision and set of targets to address plastic waste and pollution at its source by 2025. These targets include eliminating unnecessary plastic, but also using innovation to create a circular economy for plastics. Currently, the group includes businesses that represent 20% of all plastic produced globally so there is real scope to bring change. 

Why this matters:

Plastic waste is now a major issue for shoppers, businesses and government alike. By re-imagining how plastic is designed and used there is an opportunity for businesses to work towards fully-realised zero-waste and plastic-free claims.

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Watch how the 2 grams of tin in every smartphone has a human cost

(Source: We the Economy)

This short film from Academy-Award-nominated director Jehane Noujaim looks at the human impact of the tin supply chain fuelled by the global demand for mobile phones. Most of the world’s tin is sourced from two islands off the coast of Indonesia; Bangka and Belitung, where working conditions can be lethal. As Jeffrey Sachs, Director at Earth Institute at Columbia University, says “We need to build a market that rewards ethical behaviour. We need to build a politics that punishes unethical behaviour. I want to see worldwide standards in place, and accountability, reporting and transparency.” However, the film also queries this as a binary issue, arguing that our consumption has also helped lift many out of poverty and that the solution isn’t simply boycotting products.

Why this matters:

“Businesses need to be transparent about the social impact of their supply chains, and how prices affect working conditions far upstream of the shopper. However, social impact stories don’t have to be negative. By humanising their supply chain it allows us to address solutions, instead of boycotts which could endanger the population more or simply re-locate the problems.”

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About Provenance’s transparency roundup

From the UK’s Modern Slavery Act to the rise of startup brands with open price breakdowns, transparency is an important movement affecting marketing, branding, supply chain and core business strategy for consumer goods brands all over the world. As the market leaders in tech-powered transparency, each week the Provenance team selects our picks of the most impactful and insightful news stories.