What’s really driving consumers and their behavior patterns?
In today’s world, the Millennial constantly has technology at their fingertips, expecting access to real-time information to enhance their purchasing power and ultimate product selection decision.
In terms of the food and medicines they consume, this means the importance of knowing the true origin of the products they are considering for purchase. It’s also the assurance that these products they and their families are consuming are not counterfeited and have been harvested in a socially responsible manner that won’t negatively impact the world.
What’s driving this desire for real-time transparency is not a novelty- it addresses the continued growth of serious safety concerns.
Think about the baby formula that was contaminated with melamine that caused infants to die in China. Parents want to make sure what they give their kids has integrity and is safe. By being able to use technology to track all of the touch points of a product in the supply chain, we can begin to show that transparency to these consumers to make sure they have confidence in buying a product.
Frequentz was founded in 2008 on the premise of bringing technology to consumer goods to provide transparency, trust and integrity across the supply chain. So when we think about traceability, it is really about transparency of how a product is produced so that the consumer, who is making their buying decisions, can be as informed as possible about what’s in the product they are considering for purchase.
The world is an interesting place at this point in time. Technology continues to evolve and drive change like we have never seen before and at a faster rate. It will take technological advances to continue to figure out how we feed the world, how we provide medicines to the world and how we protect the world’s natural resources.
We have a growing population on a global basis. I think of us as one big community of people who have got to learn how to work together, share together and utilize technology as a key enabler to help move forward the answers to the many concerns of today’s consumer.
About Charlie Sweat
Charlie Sweat serves as CEO, Chairman & Founder of Frequentz, the leader in global traceability solutions. He is an alumnus of the Stanford University School of Business (SEP) and a former Alumni Board of Directors. Prior to Frequentz, Mr. Sweat served as CEO of Earthbound Farm. During his 15-year tenure with Earthbound Farm, Mr. Sweat was able to grow its business from $10 million to over $540 million in revenues. Early in 2014, he led and completed its sale to WhiteWave Foods, Inc. on behalf of its shareholders, including private equity firm Kainos Capital, for approximately $600 million. Mr. Sweat has been recognized as a Regional Winner and National Finalist in the 2011 Ernest and Young Entrepreneur of the Year Awards. On top of his current role at Frequentz, he is a board member of two privately held companies, as well as Global Green USA, a non-profit organization.