Latis offers competitive insights for companies who want to know how their products stack up against competitors on sustainability performance.
Research has shown that over 50% of all global consumers are checking labels for sustainability credentials and shopping for more eco-friendly products. Gain a competitive edge in the CPG market by understanding your products’ comparative sustainability performance.
To compare your product to competitors:
1. Create your competitor’s product as a formula within Latis
Navigate to + Create New
Select a Workspace
Add your competitor’s product ingredients. You can find the ingredient list on the product label. List the ingredients in the order they are listed on the label (ingredients are always listed in descending order of percentage inclusion).
If you know the precise percentage inclusions for each ingredient, select Edit % and edit the percentage inclusions.
If you don’t know the percentage inclusions, our proprietary algorithm will estimate the percentage inclusions based on the order of ingredients.Include the Sourcing Standards or Sourcing Location for each ingredient.
If you don’t know the sourcing standards or location, our proprietary algorithm will assign the most likely values based on our industry research.Select View Impact, then Save your competitor’s formulation.
2. Compare formulas in the Formula Comparison tool
Navigate to Planning > Formula
Select your competitor’s formula from the dropdown search field and select Compare to add it to the comparison table
Select your own formulas from the dropdown search field and add to the comparison table
Select Columns to add or remove columns from your comparison table
Select Show Details to view a metric-level comparison of your selected formulas
Select Export to export your selected formulas into an .xlsx file with the raw values for each metric and the HowGood Impact Score displayed
Note: Competitor product comparison should only be used for internal decision-making purposes, not external claims or communications.