Wednesday, September 21, 2011

HEALTH MEGA-TREND #2: Health conscious consumers increasingly acting on product safety concerns

Even in 2004, 91% of US respondents told Datamonitor that "improving their physical health" was either 'very important' (40%) or 'important' (51%) to them. The most recent research conducted by Datamonitor shows that US consumers are continuing to adopt a more proactive approach towards managing their health

TREND #2: Health conscious consumers are increasingly prone to, and acting upon, product safety concerns

There are intensifying product safety anxieties that affect many global citizens.  The implication is that escalating health attentiveness has been matched by growing concern about the safety of products. Consumer sensitivity is a growing phenomena as reflected by allergen and intolerance influenced consumption – which if addressed could create opportunities to target specific segments.

Related is that “fear-driven avoidance” means some consumers are outright rejecting products that are perceived as containing harmful ingredients or where safety is compromised.  So, consumers will be less forgiving when products compromise their safety.

Consumers also are opting for more local products, especially food products, because of a perception they are safer. Safety concerns will be one of a number of drivers ensuring that “local” products will continue to gain favorability, especially in food and beverages.

Finally, global shoppers, especially those in developed consumer societies, increasingly value reassurances and transparency about how products are produced.  Therefore, reassuring consumers will become a necessity to overcome trust voids and build stronger brands.

1 comment:

Mahesh! said...

Good blog !!