Label Insight Reports Customers Willing to Pay More for Honest Brands

Label Insight, a Serra Capital II portfolio company, was featured on NBC News on September 8. Label Insight's platform helps brands and retailers better understand their own product data in order to pass that information along to consumers, giving them the power to make informed purchasing decisions. The article highlighted recent findings confirming that consumers are "tired of the fine print," and would be more brand loyal and even pay extra for product transparency. 

Driving Long-Term Trust and Loyalty Through Transparency surveyed 2,021 consumers of varying ages across the country in July of 2016. They found that 94 percent of consumers would be more loyal to brands that practice transparency, while 56 percent claim that brand transparency would make them "loyal for life." The study also found that 39% of consumers would be willing to switch to a new brand if it offered full transparency.

Source: http://www.nbcnews.com/business/consumer/consumers-prefer-honest-brands-are-willing-pay-extra-them-n644916