CHICAGO, April 21, 2016 /PRNewswire/ -- Label Insight, the leading provider of SaaS data solutions providing powerful insights and strengthening the connections between CPG brands, retailers and consumers, announces the launch of its Sustainability SmartSPEC™ solution. The Sustainability SmartSPEC is customizable based on a retailer's unique sustainability initiatives in categories such as environmental impact, animal welfare and farming techniques. It contains more than 500 attributes such as Recycled Materials, BPA-Free, Cage-Free, Hormone Free and Sustainably Grown enabling retailers to better understand and select their inventory and provide consumers with the information they seek about sustainable products.
A SmartSPEC™ is a custom set of attributes that allows retailers to gain deeper insights into their inventory. The Sustainability SmartSPEC™ joins Label Insight's SmartSPEC for SmartLabel which helps CPG companies quickly and easily participate in the SmartLabel initiative. SmartSPEC draws on Label Insight's 15 years of product data attribution experience and the knowledge of its dietetics, food science, nutrition and technology experts.
"We are experiencing a consumer-driven food revolution," said Anton Xavier, Chief Product Officer at Label Insight. "As consumers become increasingly sophisticated with regard to their food-purchasing decisions, we see a shift in what is most important to them. Retailers are facing an increased demand for transparency in product information from production methods to packaging, as well as information about the ingredients they're putting into their bodies."
Product sustainability has become an important consideration for consumers as they make their food purchasing decisions. In fact, according to data collected by Label Insight through a survey of more than 1,500 consumers, more than a third of consumers (37 percent) say they consider whether a product is produced using sustainable methods when making purchase decisions. Sustainably produced products ranked above organic, low-sugar, low-fat, clean-labeled and allergen-free in terms of importance when making a purchasing decision.
Categories of attributes in the Sustainability SmartSPEC™ include:
- Farming Practices (e.g., Organically Grown, No Pesticides, Hormone Free Ingredients)
- Animal Welfare (e.g., Pasture Raised, Cage-Free and Humane Certified)
- Sustainable Seafood (e.g., Dolphin Safe Certification and Sustainable Seafood Claim)
- Business Principles (e.g., Certified Fair Trade Claim and Ethical Claim)
- Production Methods (e.g., Energy Efficient Claim, Responsibly Produced Claim)
- Packing Material/ Recycling (e.g., BPA Free Claim and Compostable Certification)
- Ingredients (e.g., All Natural Claim, 100% Organic Claim and Non GMO Certified)
- Environmental (e.g., Carbon Free Claim, Renewable Energy and Rainforest Alliance Certified)
- Health/Nutrition (e.g., FDA Low Fat Claim and Heart Healthy)
Label Insight's study also revealed that, beyond impacting food purchasing decisions, sustainable food practices encourage brand loyalty. Sustainability ranks higher in the customer decision-making process than brand recognition when it comes to pledging their brand allegiance. The top three attributes related to sustainability that consumers weigh most heavily are: product health/nutrition (37 percent), farming techniques (34 percent) and animal welfare (34 percent).
"Retailers looking to connect with consumers on food transparency and offer a deeper omni-channel experience across channels need greater insight into product attributes and digital information that's easy for customers to access," added Xavier. "Label Insight's Sustainability SmartSPEC™ empowers retailers to choose and organize specific attributes surrounding this important topic."
About Label Insight
Label Insight is the leading provider of SaaS data solutions, providing powerful insights for and strengthening the connections between CPG brands, retailers and consumers. The company's cloud-based product data engine enables CPG brands and retailers to transform basic product data into smart attributes, providing a deep understanding of their product set. Label Insight offers an unmatched level of data, generating 15,000 attributes - such as nutrients and allergens - per product. These attributes serve as building blocks for a live view of data for more than 300,000 products across 17,000 brands, totaling over 80 percent of the U.S. retail food and beverage market. Label Insight customers use this deep level of product data to provide greater transparency to consumers; maximize category growth potential; easily participate in industry and government initiatives, such as SmartLabel; and create more connected omni-channel experiences.
To learn more about Label Insight's ability to streamline the product data process and improve transparency, visit www.labelinsight.com.
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SOURCE Label Insight