As retailers continue expanding their private brand strategies, here are five strategies food and beverage manufacturers should consider adding to their playbooks to drive demand for their brands.
It’s no secret: the buzz surrounding the trajectory of private, or own, brands has reached a fever pitch. With the growth rate outpacing national brands year over year, the private brand revolution is not only changing how consumers shop, but how retailers stock their shelves. Numbers vary by source, but private brand sales are hovering around 20 percent across categories with one in five consumer products purchased a private brand. In Europe numbers are even higher, with 10 countries achieving at least a 30 percent market share, and two countries, the UK and Switzerland, climbing to over 50 percent. All signs point to these numbers holding strong—if not increasing—in 2010 and beyond.