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Market Research Company Euromonitor International released a new report today on the face and future of private label brands for retailers, focusing on the shift to private label, category performance globally and regionally and competitive analysis.
According to the report, constraints on disposable income pushed shoppers to trade down to basic items, providing an opportunity for private label brands to increase in popularity. Overall perceptions about the quality of private labels have been improving for decades, although they vary country to country depending on the maturity of the market.
Euromonitor's Global Consumer Trends Survey of 2013 noted that consumers in India and France were most positive about private label with 27% and 23% saying they intended to increase purchases of private label products over the next 12 months. However, private labels are still a little known concept in Russia where as many as 23% never buy private label products. Private label penetration is highest in Switzerland with 37.7% and lowest in China with .4%.