For instance, 69% of consumers said it’s very or somewhat important to have a good assortment of private brands in food and beverage.
Private brand performance within the grocery channel dramatically increased in the past year, posting annual sales of $138 billion across multi-outlet plus convenience store retail channels in the United States in 2017, according to new insights from Food Marketing Institute (FMI), Arlington, Va., and IRI, Chicago. Still, supermarkets face major competitive challenges and are experiencing steady own-brand share leakage to other retail channels.
The first half of a 4-part series called “Power of Private Brands” offers insights into how consumers can build engagement, and how the grocery industry can improve its private brand business.