Trust and Transparency - Consumer TrendSights Analysis, 2023

Abstract

Building more accurate and honest engagement with the consumer is crucial to brand loyalty. Many consumers are skeptical and confused by conflicting information. Modern consumers expect a variety of information to be made available by brands particularly around health and third-party validation.

Trust & Transparency is part of the Comfort & Uncertainty mega-trend. In a modern world of tightening regulation, alternative facts, confusing health messaging, and greenwashing, understanding and leveraging trust and transparency trends is important to avoiding consumer backlash.

Scope

• Consumers are more aware than ever of the pitfalls of social media, but it remains the predominant source of information, so it is important that brands work on their engagement in these spaces.
• In the age of cancel culture, brands cannot risk being vague and must make a full, consistent commitment to their policies and practices.
• In light of cost pressures, brands must be shrewd about which information to make accessible to consumers.
• The Trust & Transparency trend has been critical to the recent boon of clean label products, particularly in food, beverages, and personal care.
• Understanding the beliefs and values of target demographics constantly evolving due to geopolitical and macroeconomic factors is key to how brands approach trust and transparency.

Reasons to Buy

• Recognize what has driven the evolution of consumer attitudes so far, and why brands must incorporate Trust & Transparency attributes and features.
• Identify where the market is going and how consumers react in different categories.
• Access valuable strategic take-outs to assist future decision-making and product development.