Daymon’s Post

https://lnkd.in/gBtaP-ai After my daily coffee, I found this article from another retail consulting group. The statistic is that private brand label sales will increase by 4% over the next six years. The indicator of private label success with retailers is how well the retailer makes the private label sector a key component in their overall performance. The private brands that stand out are the ones that have already built trust with their direct consumers. Seeing private brands emerge more in the marketplace inspires me to build small local brands since you never know what the odds are that you'll get into Aldi, Target, or Trader Joe's.

Successful innovation faces many barriers: physical availability in terms of retailer listings and shelf space; mental availability such as advertising, promotion and shelf space; product ‘newness’ or distinctiveness; positioning and pricing versus competitors; consistency with the parent brand; consistency of investment and support; private label competition and imitation; new product expertise locally or internationally. The other consideration when evaluating innovation is that it is more difficult in crowded marketplaces with a lot of competitive ‘clutter’. In the UK grocery market, the shopper is faced with 20,000 to 25,000 productswhen shopping. Between 60 and 90 new products on average are launched every year in every category. Few of these will survive and even fewer be successful. This is huge competitive clutter to cut through and success will take a long time, often decades. Download the innovation white paper report (link in comments) for more insight to Grocery Innovation in the UK ⬇️ #BrandInnovation #GroceryInnovation #FMCG #GroceryIndustry

Good evening Friday Management TASK 277-Private labels are posing a formidable threat to brands. Would brands lag behind to accept the domination!!! Private labels were once thought of as the “cheap” alternative to big-name brands, however the pandemic combined with inflation helped usher in a new era for private labels across both multichannel and pure play retailers posing a formidable threat to brands. Today, a solid digital shelf strategy needs to include tactics to address the threat of private label brands stealing share from the shelf. https://lnkd.in/gzHW6sXk

Good evening Friday Management TASK 277-Private labels are posing a formidable threat to brands. Would brands lag behind to accept the domination!!! Private labels were once thought of as the “cheap” alternative to big-name brands, however the pandemic combined with inflation helped usher in a new era for private labels across both multichannel and pure play retailers posing a formidable threat to brands. Today, a solid digital shelf strategy needs to include tactics to address the threat of private label brands stealing share from the shelf. https://lnkd.in/gG4FD5dv

Private Label Growth: A Game Changer for Retailers? It’s impressive to see private label spending now accounting for 20% of the U.S. grocery market, with projections to reach 24% by 2030. As the report highlights, private label brands are becoming key drivers of customer loyalty and differentiation, which is crucial for retailers looking to build strong, profitable connections with their consumers. The rise of private label is a trend to watch closely, especially as major players like Kroger and Amazon Fresh continue to expand their private-label offerings. How will this shift impact the broader retail landscape?

"Private Label is shaping the future of Retail"🛒 Well, One thing about having professor's expertise in retail is that you are thorough with how retail thinks and acts. 📈 Some statistics say there are more private label brand products in the North American market than ever before. A McKinsey survey conducted in mid-September revealed a significant shift in consumer behaviour, with nearly one in five US grocery shoppers opting for more private-label products. So, why the surge in popularity? Well, my 2 cents is why wouldn't retail stores miss on the opportunity to capitalize on the growing trends of Private Label " Store good" products when they have higher margin, Lower cost, as well as more consumer demand. Perhaps, factors such as inflation, supply chain disruptions for national brands, and evolving consumer perceptions have catalyzed the exponential growth of private label products.. I believe, retail sector trend in 2024 might get more interesting as the battle between national brands and private label brands increases to an extent where the mere emphasis would be on value over price. I'll be obliged to get your take on the growing trend of Private Label in comments and have added a few links to know more about the trend of Private Label branding. #retailrevolution #privatelabel #futureofretail #consumertrends #brandstrategy

📈 The Rise of Private Labels: From Sidelines to Center Stage! Once seen as the budget-friendly, lower-quality alternative, private labels have had a glow-up post-pandemic. Supply chain disruptions and economic pressures led many to try store brands. This trend driven by affordability and availability shifted the perception with major retailers like Lidl, Aldi, Walmart, and Costco leading the way in United States. Circana reports a stunning 8.2% surge in private-label sales, surpassing national brands' 5.1% rise in early 2023. Why retailers love it? 💰 Higher Margins: Private labels often offer higher profit margins compared to national brands because retailers can control production and pricing. 🤝 Customer Loyalty: Short-term switching behaviour can be converted into long-term customer loyalty. Keeping the momentum: 🧠 Innovation: Continuous product and category development. 📢Slick Marketing: Eye-catching packaging and clear benefits. 💲 Strategic Pricing: Maintaining that value edge. But will this private-label boom be a short-lived one? Yes, if the retailers don't step up their private-label game! Explore the full story by McKinsey & Company. #mckinsey #privatelables #retail #storebrands

When it comes to gaining consumer trust, some brands do better than others. Brands that have earned a high degree of trust among consumers are highlighted in Newsweek’s “Most Trustworthy Companies in America” report. The annual study, conducted in partnership with Statista, ranks companies across 23 industries based on trustworthiness. The rankings are based on an independent survey of about 25,000 Americans and 97,000 submitted evaluations of companies on three touchpoints: customer trust, investor trust and employee trust. Grocery & Convenience Stores (56 ranked) Publix H-E-B Whole Foods Market WinCo Foods Kroger Sprouts Farmers Market The Fresh Market QuikTrip Stater Bros. Markets Smith’s Harris Teeter Brookshire’s Food & Pharmacy Big Y Foods Sheetz Raley’s Supermarkets Albertsons Cos. Giant Eagle Southeastern Grocers (parent company of Harveys Supermarket and Winn-Dixie) Weis Markets Hy-Vee Retail (66 ranked in total) Chewy Amazon Costco Wholesale Tractor Supply Ace Hardware PetSmart True Value The Home Depot Great American Outdoor Group (parent company of Cabela’s and Bass Pro Shops) Cabela’s Ulta Beauty United Natural Foods (UNFI; food wholesaler) Dick’s Sporting Goods Harbor Freight Tools Office Depot Academy Sports + Outdoors 1-800-Flowers Love’s Hobby Lobby

Dive into our latest article: "The Six Retail Formats in Food Retailing and Their Impact on Packaging Design" - Essential Insights for Brands and Designers! From the bustling aisles of your local convenience store to the vast expanse of hypermarkets, each retail format presents unique challenges and opportunities for packaging design. We've unpacked the essentials: 1) Convenience Stores: Where impulse buys reign, and cult products shine! 2) Discounters: Balancing quality and cost – a design tightrope. 2) Supermarkets: A battleground for brand differentiation. 4) Cash-and-Carry/Self-service Wholesale: Bulk buying with a clear volume advantage. 5) Hypermarkets: A blend of variety and convenience, challenging brands to harmonize distinctive features with unified brand storytelling. 6) Online Trading: The digital shelf where strong brand dominance is key. 🔍 Discover how each format shapes the way we perceive and interact with product packaging. Understand the strategies behind successful designs that cater to various consumer behaviors and preferences. 🔗 Ready to unwrap more insights? Click the link for the full article. 🌐 https://lnkd.in/dUaJEcy9 #FoodRetail #PackagingDesign #BrandStrategy #Creality #RetailFormats #DesignInnovation #ConsumerBehavior #MarketingStrategies

Is the focus on Private label hurting your business? Read this article from our exoert team on the strategies that can help you win!