One of the fidget spinners above contains potentially harmful amounts of lead. The other fidget spinner is 100% safe and has been tested and approved to meet industry regulations.
Can you tell which fidget spinner is which? Would you be a little hesitant to touch one if you received them?
Fidget spinners have recently become a viral product that can be found everywhere you look. Since becoming a widely-popular item, hundreds of suppliers have started creating these products at rapid speed to keep up with the demand, whether that’s in a safe and compliant manner or not. The risk doesn’t stop with fidget spinners. Every year there are thousands of product recalls. With technology and social media available to more than 2.5 billion people worldwide, the opportunity for someone to voice their opinion about your product and damage a brand’s reputation is evident.
In addition to social and mobile proliferation, consumers today are demanding more and more transparency and authenticity from the brands they’re exposed to. As the largest group of consumers, Millennials are twice as likely to share their opinions on a brand on social media. It’s not enough for brands to strictly promote products anymore, consumers care about how companies are socially responsible and how their purchase will impact the more than themselves.
Lastly, there’s the regulatory impact that is affecting the importance of transparency today. Did you know that less than 1% of branded merchandise suppliers are third-party certified? In 2015 alone, more than $126 million was paid to lawyers to settle Prop-65 lawsuits. (A law requiring the labeling of any product that contains any level of harmful materials.)
At Boundless, we take safety and transparency seriously to take the risk out of your supply chain.
One bad purchase decision and your brand could be the face of the next multi-million-dollar recall. Nobody wants that. As a result, we’ve created the industry’s 1st Transparent Product Catalog, to give our buyers confidence and insight into the products they’re buying and visibility into all necessary safety documents required. We recognize the importance of being transparent in today’s society not only as buyers but as consumers.