Private label: the new normal
Everyone likes saving money.
Private Labels offer quality products at affordable prices.
Private-label quality levels are getting higher and higher,
and they are more consistent than ever.
20% of consumers seek private label products as retailer-owned brands are perceived to offer favorable prices and good quality at the same time.
Private label:
the new normal
Everyone likes saving money. Thus, more and more consumers are looking towards cost-saving options for their everyday purchases, leading to a boom in the success in private label goods. 79% of consumers are more conscious about their spending, according to the last edition of the NielsenIQ Consumer Outlook.
Private label:
a winning choice
Private label in retail is mutually advantageous for both consumer and retailer. With private label, the retailer gets to fill market niches, increase shopper and brand loyalty, and profit from a lower cost structure. Meanwhile, the customer benefits from purchasing private label products as they are typically more affordable than branded products, while still retaining high quality.
Private label:
a worldwide trend
Globally, private labels account for 19.4% of overall FMCG value sales. The slice of share can vary greatly by region. Private labels enjoy positive trend in Europe, Asia and North America. In this region, the discounter format is a leading retail channel, selling major private labels against serving top manufacturer brands and a key consumer need—value for money.
Private Label contribution to
total FMCG sales vary by regions
