TrendSights Analysis: Risk Aversion – How to accommodate the concerns of risk-averse consumers

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LONDON, Nov. 9, 2017TrendSights Analysis: Risk Aversion – How to accommodate the concerns of risk-averse consumers

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The Risk Aversion trend refers to the rising consumer tendency towards products that assist them in mitigating risks arising from products, their environments, and their financial situations. Brands should seek to support the four strategies that consumers use to mitigate risk: avoiding certain ingredients, protection from environmental irritants, assurance of product quality, and cost saving. This trend is likely to grow as consumer sensitivity to risk grows.

Consumers are concerned about the variety of hazards that exist in day-to-day life. This concern spans the impact of ingredients in FMCG products on their health, potential irritants in their environment, as well as political and economic uncertainty. FMCG manufacturers can tailor their products to respond to these needs – helping consumers reduce risk in their lives. Risk-averse consumers, however, are hesitant to trust brand claims. Brands must thus also build credibility if they want their “natural” or risk-reducing products to appeal to the consumers.

Brands can appeal to risk-averse consumers in several ways: reducing or limiting the use of ingredients perceived as having a negative impact on consumer health and wellbeing, offering products that protect consumers from environmental irritants such as pollution and bacteria, building consumer trust in the brand through engagement and third-party certifications, and offering price-saving products that help consumers deal with the financial uncertainty caused by pervasive political and economic instability.

The report “TrendSights Analysis: Risk Aversion” examines the impact of consumer risk aversion on FMCGs. It examines why this trend is increasingly important, who the target audience is, their preferences, and how FMCG brands can best capitalize on this trend. Finally the report looks at what the future of the trend will be.

Companies mentioned in this report: L'Oreal, Marks & Spencer, Gippsland Dairy, La Roche Posay, ZO Skin Health, Origins, Nexba, Purina Beyond, Presha Fruit.

– 62% of consumers would prefer reduced chemicals/processed ingredients over increased functionality in food and drink.
– 58% of consumers are concerned about the impact of pollution on their health and appearance.
– 62% of parents are more likely to trust blogger/user reviews over brand claims.

Reasons to buy
– Understand the top concerns of risk-averse consumers.
– Understand where these consumers turn to for information and which sources they perceive as most reliable/trustworthy.
– Understand the main opportunities within this trend and how this trend is affecting a variety of industries.
– Understand how other brands are designing products to cater to this trend.

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Brad Bennett

Brad Bennett

Brad grew up in a small town in northern Iowa. He studied chemistry in college, graduated, and married his wife one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children.
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