This guest post comes from Shaun Bossons, Chief Revenue Officer for Trace One.
Around the world, grocery retailers are creating innovative products to align with consumers’ values who increasingly shop according to their principles (not just prices).
Here are some ways grocers are using their private brands to meet consumer values.
Health and Wellness: More consumers are making an effort to eat healthy, as demonstrated by growing demand for certified organic, non-GMO and sugar-free products, among others. To deliver healthy food options, German grocer Rewe Group launched its organic food private brand “Ja! Naturlich” in the 1990s. Today the line accounts for an impressive 50% of the Austrian market, proving that forward-thinking, consumer-centric products can be a sustainable investment.
Corporate Social Responsibility (CSR): To feel good about their purchases, more consumers choose to buy from companies with a strong commitment to CSR, including ethics and environmental friendliness. Last year Dutch retailer Jumbo launched a series of sustainability-themed campaigns to promote products reflecting sustainable fishing and fair trade. Retailers can feature new products, special offers and informative marketing to share how their private brands reflect CSR.
Vegan: For health and ethical reasons, more consumers are demanding dairy-free, meatless meals. In the UK, more than a quarter of meat-eating consumers are actively reducing their meat consumption. In response, Tesco and Sainsbury’s launched new vegan private brands, including chilled vegetarian meals and meat alternatives, as this segment grew 25%. Within months of the launch, Tesco launched a new vegan pizza to extend its range for consumers who desire plant-based protein products.
Grocery retailers can reflect consumer values by using their private brands, which often adapt faster than consumer goods giants’ legacy systems and processes. More grocers also use data insights to identify products within their existing assortment to reformulate recipes according to consumer values, such as reducing salt or sugar for healthier choices.
Shaun Bossons, Chief Revenue Officer, Trace One
Shaun has been Chief Revenue Officer at Trace One since 2016 and before that served as Executive Vice President of Global Sales. Based in Chicago, IL, USA, he is a thought leader in the areas of Private Label Management, category management and consumer loyalty for the retail landscape.
Shaun has a deep background in retail optimization and collaboration, having worked in the industry for over 20 years in a number of executive leadership roles. During this time he has created, evolved and executed sales, marketing and partner strategies for a number of global, market-leading solution providers.
Previously, Shaun served as the Head of Apollo at Aldata Solution Oyj and as a key contributor to its Member of Management Council since 2009. Prior to that he served as Global Senior Vice President of Apollo Solutions Group at Information Resources, Inc. (formerly, SymphonyIRI Group, Inc.) and had growth, development, and management responsibilities for the IRI Apollo space management platform of retail optimization solutions.