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Bill Gates once said, “We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten.”
Store brands have seen breathtaking growth in recent years. In 2012, sales surpassed $108 billion and unit share climbed over 21 percent, according to PLMA and Nielsen.
In a recent interview with The Wall Street Journal, Procter & Gamble CEO A. G. Lafley said his company is now spending upward of 35% of its marketing budget on social and digital media—a whopping $1.5 billion!
Consumers are already accustomed to shopping online. But does that level of acceptance translate over to grocery items—and particularly store brand products?
Which retailers really understand how to maximize private label promotions through new media?
We have entered an age of significant change in the retail world. And as these seismic shifts take place, you need to ask yourself how your corner of private label will weather these changes.
For years, if you wanted to find out about what your customers were thinking you could use the traditional research methods – mostly surveys and focus groups. And you could hire some panels for new products.
Calling it the world’s first private brand mobile app, Daymon Worldwide on Tuesday announced that it would make iDaymon available for iPhone, iPad and Android platforms.