TrendSights Analysis: Private Label Evolution - How private labels are becoming the go-to brands of choice

Published: October 2017
No. of Pages: 37
    ReportsandReports

TrendSights Analysis: Private Label Evolution - How private labels are becoming the go-to brands of choice

Summary

Today's private labels are drifting away from their traditionally generic, me-too positioning in a bid to stand as go-to brands in their own right. To achieve this, retailers are focusing on adapting to consumers' ever-changing demands by aligning with their needs and values. The proliferation in innovation by private labels seen in recent years could be one of the main factors driving consumer traction and market growth within the private label space.

Private label retailers have shown a sharpened focus on investing in product portfolios and brand-building strategies centered on meeting consumers' demands and needs, catering to a wider range of customers. To win over today's savvy shoppers, private label manufacturers have been expanding their product categories by offering exclusive ranges, aligning with consumers' health, transparency, and sustainability values.

Due to private labels becoming more and more multifaceted and innovative, three separate themes have emerged within the market. The premium, national brand equivalent, and value private label categories aim to capitalize on consumers' willingness to try new and different varieties of product.

Shoppers can no longer distinguish between national and private label brands, as retailers focus their efforts on delivering higher-quality store branded product ranges. Nevertheless, retailers are prepared to go further in a bid to attract shoppers. To do so, private labels aim to stay up to date with today's FMCG trends.

Trend drivers include in this report -
- Proactive wellbeing - Private labels are adapting to a consumer shift towards healthier offerings by developing product ranges catering to specific needs, lifestyle preferences, and tastes across various consumer demographics.
- Premiumization - Retailers are tapping into more sophisticated product ranges in a bid to compete against national brands on a higher level.

The report "TrendSights Analysis: Private Label Evolution", explore Private Label Evolution. The TrendSights framework and supporting analysis provide structure, clarity, and perspective to aid the understanding of consumer behavior, and how trends and events will shape the future. The analysis uncovers the what, why, and how of the trend, as well as who is most influenced by it and where the future of the trend lies.

Scope

- Today's private labels are drifting away from their traditionally generic, me-too positioning in a bid to stand as go-to brands in their own right. To achieve this, retailers are focusing on adapting to consumers' ever-changing demands by aligning with their needs and values.
- The proliferation in innovation by private labels seen in recent years could be one of the main factors driving consumer traction and market growth within the private label space. Due to private labels becoming more and more multifaceted and innovative, three separate themes have emerged within the market. The premium, national brand equivalent, and value private label categories aim to capitalize on consumers' willingness to try new and different varieties of products.
- The positive shift in consumers' perceptions of private labels showcases that retailers are clearly getting it right by aligning with consumers' values on health, transparency, and sustainability.

Reasons to buy

- Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.

Published By: GlobalData
Product Code: GlobalData41778


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