Our survey found respondents working from home say they have better health now (55%) than those who work away from home (46%). And this trend shows no signs of slowing down.
The massive shift in consumer eating preferences, specifically, is sending shockwaves through the consumer packaged goods industry. Companies are scrambling to find ways to innovate—and they are trying to do it as quickly as possible.
Brands that do not make the necessary changes may risk losing market share, as well as investors. Here are three tips for brands to leverage the wellness trend for growth.
Get healthy. Health products are no longer siloed away from mainstream packaged goods. Instead, we’re seeing candy and soda companies introduce reduced sugar options, for example.
Consumers are prepared to put their money where their mouth is. When it comes to groceries, 54% of consumers would pay more for a healthier option, and 50% would do so for locally produced and sourced goods, according to our study. These priorities are here to stay, as 48% of consumers say they intend to maintain habits adopted at the onset of the pandemic.
Brands should consider how they can develop new options with healthier nutritional ingredients that match the standard of their existing products.
Establish and maintain trust with consumers. Consumers want to support brands that align with their belief systems. Examples brands should consider adding to their arsenals include organic, eco-friendly, and ethically sourced options.
In this regard, it’s critical to be transparent about how your brand incorporates environmental, social and governance (ESG) initiatives. There is a real opportunity to demonstrate to consumers—and stakeholders—how ESG is part of an organization.
One way to do this is collaborating with social good influencers and activists whom consumers already trust. These strategic relationships can go a long way in creating and deepening trust among consumers, and expanding to new customers.
Vegetarians and vegans might have avoided shopping with you before, but seeing a plant-based influencer on social media talking about your new line of vegan offerings might change their impression of your brand.
Use data. Investing in direct-to-consumer channels can improve customer experience and drive loyalty, while also providing insight for companies to understand consumer values.
CPG companies can better predict and mobilize against changes to consumption, channel mix, and product demand. As a result, they can respond quickly to preference changes.
We’re already seeing this happen: Many CPG companies took note of the 20% increase in the number of consumers taking vitamins during the pandemic, (according to one study) and now include them in their portfolios.
Consumers across categories and generations are now demanding this shift, and investors are too. A healthier world is a better world, and brands have an incredible opportunity to lead in this consumer-driven movement. It’s not just important for their profitability. It’s important for society as a whole.