Why Small Brands Are Winning: Consumers' Shift Towards Smaller Brands
The rise of small businesses and independent brands have been gaining traction in recent years, and it’s not just a fad. According to recent statistics, 48% of global consumers plan to buy more smaller brands as they’re better suited to their needs. This is great news for small business owners and entrepreneurs who have been struggling to compete with larger corporations.
The Benefits of Buying Smaller Brands
The trend of buying smaller brands is not new, but it has been amplified by the global pandemic. With people spending more time at home, they have been exploring new options and trying out smaller brands. In a survey conducted by Accenture, 60% of consumers said that they were open to trying new brands during the pandemic. This trend has led to an increase in sales in the small business sector.
A primary factor driving consumers to shift towards smaller brands is the perception that these brands are better suited to meet their unique needs. This is largely due to small businesses’ ability to concentrate on a specific niche and provide customized solutions for their target audience.
Smaller brands also tend to have a more personal touch. Consumers feel more connected to the people behind the brand and are more likely to support them. This is especially true for businesses that have a strong social media presence and are able to connect with their customers on a personal level.
Another benefit of buying from smaller brands is that they tend to be more ethical and sustainable. Small businesses are often more conscious of their impact on the environment and the community. They are able to make decisions that are in line with their values and are more transparent about their practices. This has led to a rise in demand for eco-friendly and socially responsible products.
Read about the importance of ESG for food manufacturers in our article
Interesting Facts:
- According to a study by Nielsen, 73% of consumers say they feel positively about a company that promotes sustainability
- Small businesses account for 44% of all economic activity in the US
The rise in demand for smaller brands is not just a trend, it’s a movement. Consumers are looking for products and services that are more in line with their values and needs, and small businesses are able to deliver on that. The benefits of buying from smaller brands are many, from a more personal touch to ethical and sustainable practices. Small business owners and entrepreneurs should take advantage of this trend and continue to create products and services that cater to the needs of their target audience. By doing so, they will be able to thrive in a competitive market and make a positive impact on the world.
Connecting Small Business Food Products to EQO Information Base
In today’s market, consumers are becoming increasingly aware of what they are consuming and are more interested in the quality and origins of the products they purchase. For small businesses in the food industry, it’s important to stand out and provide consumers with the necessary information about their products. This is where the EQO Label unified information base comes in.
What is a Food Information System (FIS)? Read in our article
By connecting their food products to the EQO Label unified information base, small businesses can receive a recognizable mark of quality that sets them apart from other brands. The EQO Label provides consumers with transparent and easily accessible information about the product’s ingredients and nutritional values. This level of transparency builds trust with consumers and provides them with the information they need to make informed purchasing decisions.
Moreover, the EQO Label helps small businesses build a recognizable brand in the market. By displaying the label on their products, small businesses can differentiate themselves from competitors and build a reputation for quality and transparency. The label also makes it easier for consumers to recognize and remember the brand, which is crucial for small businesses looking to increase their visibility in a crowded market.
One of the key benefits of the EQO Label for small businesses is that it provides a platform to showcase their sustainable and ethical practices. With increasing concerns about environmental impact and fair trade, consumers are looking for brands that align with their values. The EQO Label helps small businesses demonstrate their commitment to sustainability and ethical practices, which can help attract new customers and build brand loyalty.
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Overall, connecting food products to the EQO Label unified information base provides small businesses with a wide range of benefits. From building a recognizable brand to showcasing their commitment to sustainability, small businesses can leverage the EQO Label to increase visibility, build trust with consumers, and set themselves apart in a competitive market.
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Source: NielsenIQ