With the holidays fast approaching, many consumers will be looking for the best buys at the grocery store. To give grocery retailers and manufacturers direct access to the voice of the consumer, Trace One recently conducted a survey to determine what shoppers want from private label products.
Conducted with 2,000 consumers from 8 countries, including the U.S., Canada, Germany, UK, Spain, France, Denmark and Italy, the survey revealed that 77% of respondents say private label brands offer quality for less money.
“Retailers need up-to-date information about consumer needs if they are to respond to changing consumer behavior, and thrive amid intense competition,” said Shaun Bossons, Chief Revenue Officer, Trace One. “We hope that our survey findings will help retailers and manufacturers adapt their private label strategy to drive both consumer loyalty and trust.”
The report reveals consumers’ opinions on the strengths and weaknesses of private label products. Key findings include:
- Private label offers a key differentiator, thus creating loyalty with 72% saying they shop at a specific retailer more than once per month because of its private label products.
- 85% of respondents buy private label products more than once per month.
- Product categories in which consumers are most likely to buy private label products include dairy (59%), beverages and paper goods (both 58%). Consumers are least likely to buy private label personal care products (42%) and produce (43%).
- Consumers who buy only economy products prefer national brands for beverages (45%), and dairy and meat (both 34%). Meanwhile, consumers who buy only premium products prefer national brands for beverages (56%) and canned/jarred goods (44%).
The report also includes examples of how retailers and manufacturers are responding to consumers’ needs, increasing sales and loyalty, and boosting store traffic.
This is the first of three reports from Trace One about consumers’ perceptions of private brands. To obtain a copy of the survey report, please contact Matt Serra at 904-355-8680 or firstname.lastname@example.org.