Global Private Label Trends and Packaging Innovation, 2013 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-17 03:36:03
Consumer demand for private label products varies greatly from a large, stable market in Western Europe and Food to small, emerging markets in Latin America and Health and Beauty.
Packaging suppliers need to react to the changing demands of customers and retailers in order to plan for the future. It´s not all low cost, low quality products. Retailers are now positioning private label products in direct competition with national brands and in some cases as improvements over them without the additional costs.
Private label strategies are increasingly varied in mature markets such as the UK and the US. While there still remains a place for low cost, basic quality goods such as Walmart´s "Great Value" range, it is becoming common to see private label ranges across a variety of price points as retailers attempt to differentiate their brands from national brands (such as Tesco´s "Goodness" healthy food for kids range) as well as compete directly with them (such as Mercadona´s "Hacendado" juices in Spain).
Innovation in packaging is key to updating the image of private label products being followers rather than leaders. Private label is a great vehicle for launching packaging innovations as decision making processes are much shorter with retailers than with brand manufacturers.
Although value ranges still exist, private label products have developed quality ranges as they are able to work with local suppliers and can monitor and guarantee provenance, this has been especially important with recent food scares.
The core consumer sector, as far as private label is concerned, remains Food, whilst Health and Beauty will be the rising star in terms of future market potential. There is limited growth potential for Beverages over the next five years as far as private label is concerned, as brand manufacturers have a far more entrenched position in many mainstream soft drink and beer categories.
In established markets retailers are drawing their private label products together with pack designs and labeling as a single Private Label range such as Tesco´s "Essentials".
Perception of product quality for premium private label ranges is being established by using quality pack formats and designer labeling rather than white label, basic font products associated with value ranges, such as "Presidents Choice" by Loblaws.
Our April 2013 survey of key packaging industry experts confirmed that the main influence on private label development came from the hypermarkets and hard discounter store formats. However, most experts agreed that private label products are no longer perceived as cheap, no frills, low quality brands, but are now ranked on a par with national brands.
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