Understanding blockchain in food, beverage industry

Thirty-nine percent of consumers say they would be willing to purchase from a company that utilizes blockchain technology.

Fmc Gurus Blockchain Photo
FMCG Gurus UK

Only 18% of consumers have heard of the term blockchain, according to FMCG Gurus, UK, and of the 18%, only 33% relate this to the food and beverage industry. After consumers were told about blockchain, 49% stated that this concept could be appealing. And, nearly half of the people surveyed would be likely to use this technology to find out more about food and beverages.

Due to busy lifestyles, 66% would use blockchain for just some products, including tea (55%), coffee (56%) and bottled water (50%). And, 39% say they would be willing to pay more for brands if they registered information on such a source.

Trust and transparency

The environment is an important factor when it comes to trust as nearly 63% of global consumers are concerned about the current state of the environment. FMCG Gurus research shows that 40% believe that brands can make misleading claims around environmental and ethical policies and practices, while 63% state they associate brands and manufacturers demonstrating environmental friendliness as being transparent. This is key for brands to be trusted, as 50% of global consumers say they associate trusted brands with being better quality.

Research

FMCG Gurus consumer insights show that today’s consumers are being proactive when researching products. For example, 48% of consumers state they currently research food and beverages most to all of the time. Pricing is still the key factor, with 52% of consumers comparing prices, however, environmental certification of brands (42%) and nutritional value (49%) are also highly sought out. 

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