FMI, Nielsen talking private label
FMI, Arlington, Va., has launched an industrywide initiative to promote private label brands.
"This initiative is a call to action for all sectors of the industry and all classes of retail trade to highlight the exceptional value of store brands to consumers, especially in these challenging economic times," said FMI President & CEO Leslie Sarasin, "FMI will work with retailers, wholesalers, distributors, manufacturers and other trading partners to facilitate innovation and increase consumer awareness of private brand products."
FMI formed a representative "Private Brands Group" to spearhead industry cooperation as well as efforts to promote private cooperation, education, food safety, public and consumer information and government relations. FMI plans to host an annual Private Brands Summit and business conference.
Nielsen, Schaumburg, Ill., said its latest survey data show nearly three-quarters (72 percent) of consumers believe store brands are good alternatives to name brands and 62 percent of consumer consider store brands to be as good as name brands.