Private Brand can expect still greater market share growth in the year ahead based on a new study of more than 11,000 consumers in 14 countries, predicts PLMA this week at its annual “World of Private Label” International Trade Show in Amsterdam.
Two-thirds of shoppers interviewed said that recent economic conditions had forced them to make changes in how they shop. Moreover, 80% of consumers said that they expect the economy to either stay the same or get worse in the year ahead.
The results came in a presentation by Professor Kitty Koelemeijer of Nyenrode Business Universiteit, who served as a contributing editor of the study.
The survey itself was developed by PLMA, working with SurveyLab of Great Britain. Countries included in the survey were Belgium, Czech Republic, Denmark, Finland, France, Germany, Hungary, Italy, the Netherlands, Norway, Poland, Spain, Sweden and Great Britain. Answers were weighted for pan-European tabulation.
PLMA president Brian Sharoff says: “the study shows that private label plays a fundamental role in the lives of shoppers across Europe and market share will continue to expand”. 46% purchase them “frequently.” In the year ahead, one in four believe that they will buy a larger amount of own brands than currently. Even when the economy gets better, consumers say that they will stick with private label: eight in ten said that after the economy improves they would not stop purchasing Private Brands.
Consumers say that there are certain important factors, which will encourage them to buy a larger number of own brands in the year ahead. These include overall satisfaction with own brand products in the past (cited by 57%), better quality (49%), more special offers on Private Brands (46%) and more variety (43%).