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The importance of trust & transparency
The importance of trust and transparency
Risk aversion means that they continue to place greater emphasis on trust and safety
High levels of uncertainty mean that consumers in Europe have become risk-averse, as they place greater emphasis on health and safety as they question aspects of their lives that they previously took for granted. Given that many in the region are conscious of future waves of the virus, this is a trend that will continue to occur for the foreseeable future. Risk aversion is manifesting in consumer attitudes and behaviours in two key ways. Firstly, consumers want reassurance that ingredients are real and authentic and not detrimental to health, driving demand for streamlined ingredient lists, free-from claims, and reassurance over natural formulation. Secondly, Europeans are being more attentive to the story behind the products that they purchase, wanting locally sourced products and demonstrating some concerns over products with extended supply chains.
