New Platform Fosters Discoverability Between Retailers and Brands Based on Transparency and Sustainability Attributes to Make Values-Based Product Discovery Easier
BOULDER, Colo., July 25, 2023 /PRNewswire/ — Informa Markets’ New Hope Network is launching a new and improved version of its product discovery platform, Beacon Discovery, creating a more efficient and effective way for natural products buyers and brands to make meaningful connections at Natural Products Expo East 2023 and beyond. Beacon Discovery, introduced to the industry in March at Natural Products Expo West, will have added functionality for Expo East, which will be held in Philadelphia September 23-27, including enhanced product discovery and show floor navigation options. Beginning this month, retailers will have the first opportunity to use the tool to browse brands and products as they prepare for a productive event.
Created with SPINS, a leading wellness-focused data company, and HowGood, the world’s largest food sustainability database, this innovative data-driven tool enables users to easily navigate a massive and fast-growing marketplace to make Expos East and West more intimate and actionable, while benefitting brands and buyers year-round with custom discovery profiles that will increase transparency and sustainability impact across the industry.
Here’s how it works:
Brands upload their product information and images into Beacon Discovery, along with information about their company’s purpose and ethos. Retailers and other buyers use the platform to efficiently find products that align with their market priorities around ingredients, values, and mission. They do this by choosing an ingredient template that most closely aligns with their store standards to filter out products that include ingredients they don’t allow in their stores. Retailers can also filter by geography, certifications, and more, and then connect with the right individual at the brand of their choice to request additional information and product samples.
In addition, every product within Beacon Discovery is assessed by HowGood on eight key metrics: Greenhouse Gas Emissions, Biodiversity, Processing, Blue Water Usage, Labor Risk, Land Use, Soil Health, and Animal Welfare. The result provides a snapshot of the environmental and social impact of each product, which brands have the option to share with potential buyers.
“We’re excited that Beacon Discovery will increase transparency across the industry, help brands be discovered, and bring sustainability and other environmental, social, and governance considerations into the buying process. The platform extends the rigorous standards we apply to our Expos in ways that retail buyers and brands can benefit from throughout the year,” says Carlotta Mast, Senior Vice President and Market Leader at Informa Markets’ New Hope Network.
“HowGood’s goal is to bring comprehensive, verified, and actionable impact data into the hands of decision-makers throughout the food system,” adds Alexander Gillett, CEO of HowGood. “Partnering with New Hope provides an unprecedented way to achieve this goal through enabling brands to be recognized for their sustainability efforts, and retailers to seek out the most sustainable brands to improve their own footprints. The launch of this new tool for shifting our industry toward more sustainable practices is a win for everyone—especially the planet.”
Through data provided by SPINS, Beacon Discovery lets retailers go deeper than the information on a product’s label, as well as optimize their assortment of products and deliver on shopper preferences. Brands can attract buyers based on hard data around standards, ingredients, mission and sales metrics.
“For more than two decades, SPINS has powered discovery for retailers and brands. Now by partnering SPINS Product Intelligence with New Hope Network’s Beacon Discovery platform, we are connecting the dots between the ‘why’ and the ‘what’ values-oriented consumers are purchasing. We’re excited to be able to provide retailers the depth of knowledge about these new and innovative products that will allow them to source the right assortment to win share with their customers,” says Julie Lockner, SVP Product at SPINS.
For emerging natural products brands, the ability to be discovered by the right retail partner means greater success and faster speed to shelf. By partnering with New Hope Network’s MarketReady Insights program, brands can receive in-depth consulting to bring their labeling into compliance with federal regulations and highlight the care they’ve taken with a MarketReady Verified seal.
“Finding products for our store can be somewhat challenging when you come to events like Natural Products Expo,” said Chris Felder, owner of Grubb’s Grocery. “Beacon Discovery is an awesome tool because, with thousands of exhibitors, it can be a challenge to know what products are available to us in West Tennessee. One of the best solutions for my store would be Beacon Discovery’s ability to show me products I don’t carry, that I should carry.”
Exhibitors are invited to begin uploading their product information prior to the event. The platform will be available for buyers to begin using in July, where they can discover products and connect with brands. Beacon Discovery will be available for discovery and connection year-round.
Brands and retailers can find more information and sign up for Beacon Discovery online. Industry members can learn more about what New Hope Network is doing to help define and safeguard the natural products industry by visiting its Standards program.
About New Hope Network
New Hope Network is at the forefront of the healthy lifestyle products industry. With solutions for the complete supply chain from manufacturers, retailers/distributors, service providers and ingredient suppliers, the network offers a robust portfolio of content, events, data, research and consultative services. Through all its actions, New Hope Network aims to cultivate a prosperous high-integrity CPG and retail ecosystem that creates health, joy and justice for all people while regenerating the planet. For more information visit www.newhope.com and beacon.newhope.com.
About Informa Markets
Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. We provide marketplace participants around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, targeted digital services and actionable data solutions. We connect buyers and sellers across more than a dozen global verticals, including Pharmaceuticals, Food, Medical Technology and Infrastructure. As the world’s leading market-making company, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com.
About HowGood
HowGood is an independent research company with the world’s largest database on food and personal care product sustainability. With data and analysis for more than 33,000 ingredients, chemicals, and materials, HowGood helps leading brands, retailers and suppliers improve their environmental and social impact. Through in-depth, ingredient-level insights on factors ranging from greenhouse gas emissions to animal welfare to labor risk, HowGood data powers strategic decision-making for the sourcing, manufacturing, merchandising, and marketing of sustainable products. Learn more at www.howgood.com.
About SPINS
SPINS LLC is a wellness-focused data company and advocate for the Natural Products Industry. Over the past two decades, the wide adoption of SPINS’ Product Intelligence has led to a common language used across the industry as well as laid the foundation for the next generation of innovation, while providing dynamic data, actionable insights, and digital activation solutions that drive growth for our clients & partners and contribute to a healthier and more vibrant America. Learn more at www.spins.com.
SOURCE New Hope Network
