A recent international survey conducted by V-Label has found that consumers – particularly from younger demographics – increasingly make shopping decisions that largely depend on certifications and labels.
“When a product is verified as 100% vegan or vegetarian by an independent authority, it gains trust”
Findings show that 91% of consumers surveyed preferred products labeled with an independent stamp guaranteeing the product is vegan without having to read ingredient lists or spend time comparing and looking for alternatives. Millennials and Gen Z-ers are more likely to make shopping decisions that largely depend on certifications and labels, as they drive the demand towards more environmentally conscious and socially responsible consumerism.
The internationally recognized V-Label is a registered symbol for labeling vegan and vegetarian products and services all across Europe. The recent survey was based on more than 23,000 consumers from over 40 countries, with results showing 79% of consumers consciously pay more attention to products with the V-Label symbol, and 61% claim they are actively on the lookout for the V-Label sign on the packaging. 78% generally trust products with the V-Label symbol more than products without it.
Interestingly, more than a third of participants believe the labeling goes hand in hand with a higher price. The demonstrative part of the survey showed that consumers are willing to pay more for a product with the V-Label symbol than for the exact same product without it.
“Certified vegan and vegetarian products sell more because trust makes the sales. Brands can essentially say anything they want as a part of their marketing strategy, but when a product is verified as 100% vegan or vegetarian by an independent authority, it gains trust,” stated Renato Pichler, CEO of V-Label GmbH.
The full survey report can be found here.