Mspark’s Post

According to a new study we conducted at PDG Insights, more than seven in 10 consumers under 45 choose private label products because they were "better for..." over national brands, particularly when given a price value. Whether the products were natural or organic, eco-friendly/sustainable, or simply socially responsibility focused, younger consumers were nearly 50% more likely to prioritize these attributes in private label over consumers aged 45 -54 and twice as likely to care versus those 55+. Walmart clearly has the right audience in mind, but will other retailers follow suit, and will manufacturers to supply where there is clear consumer demand. #privatelabel #storebrand #theprivatelabelopporutunity #PLMA #Walmart #Bettergoods #grocery #retail #consumertrends #shoppertrends #TraderJoes #Aldi #Kroger #SimpleTruth #naturalorganic #natural #organic #ecofriendly #sustainable #sociallyresponsible #socialenterprise #newproductdevelopment #newproduct #branddevelopment

Walmart is leaning into the right consumer trends, which we can independently validate by insights we are set to publish next week. Give us a follow to see when our blog posts Tuesday. #privatelabel #storebrand #theprivatelabelopporutunity #PLMA #Walmart #Bettergoods #grocery #retail #consumertrends #shoppertrends #TraderJoes #Aldi #Kroger #SimpleTruth #naturalorganic #natural #organic #ecofriendly #sustainable #sociallyresponsible #socialenterprise #newproductdevelopment #newproduct #branddevelopment

New research reveals generational differences in #privatelabel shopping. Older consumers purchase more private-label items across various categories, while younger shoppers choose stores based on their private-label offerings. Household staples, such as canned goods, beverages, dairy, paper products, and bakery items, are the top categories for private labels. In 2023, private label sales reached $236 billion, with 98% of American households purchasing at least one private label item. Older #shoppers buy private labels in an average of 8.9 categories, compared to 7.3 categories for younger shoppers. Millennials are increasingly seeking store brands as the quality improves. #Beverages are popular among shoppers under 34, while older groups favor breakfast cereal, frozen foods, and cleaning supplies. Older #consumers view private labels as good value, influencing their shopping habits.

New research shows that while older generations buy more private-label goods across various categories, younger consumers are choosing where to shop based on store brands. Household staples like canned goods, beverages, dairy, and bakery items are top private label categories. Older shoppers purchase across an average of 8.9 categories, whereas younger consumers shop across 7.3 categories. As the quality of private-label goods improves, their appeal continues to grow. #ConsumerTrends #PrivateLabel   For more insights, read the full report from PDG Insights. https://lnkd.in/g-kjWhCh

Grocery Trends: The Rise of Private Label Brands Less than 2% of surveyed shoppers said the only reason they purchased private brands was because other products weren’t in stock... ...Meaning consumers are — in almost all instances — choosing private labels over brand-name counterparts, with ~20% of consumers reportedly buying more private-label products (primarily for affordability). Get the big picture in our full analysis, including some considerations for putting more eggs in the private-label basket. 👉 https://lnkd.in/e78syQ_r #RetailTrends #ConsumerTrends #Grocery

54% of surveyed shoppers said they plan to purchase more or mostly store brands in the future, compared to 26% who said the same for name brands, according to a new report from FMI – The Food Industry Association. An astonishing 90% of shoppers said they would be somewhat or very likely to continue buying private brands even if inflation becomes less of a factor. Read more about this here: https://lnkd.in/e8XShXXV Discover how CLEARDEMAND can drive your profits. Contact us here: https://lnkd.in/gCsnSjRP #ClearDemand #priceoptimization #priceintellingence #price #softwarecompany #retailinnovation #machinelearning #machinelearningsolutions #compliancemanagement #compliance #compliancesolutions #promotion #supplychainmanagement #supplychain #supplychaintech #saasbusiness #groceryretail #price #promotions #markdowns #revenuemanagement #grocery #forecasting #tobacco #costincrease #inflation #competitivepricing #pricemanagement #priceautomation #retail #cstore

Check out this article on current consumer trends in the grocery space. Very interesting!

We analyzed the optimal design of discount labels to attract shoppers and boost sales of items nearing their best-before date. Our findings confirm that a red label with the word 'reduced' is the most effective combination to encourage purchase decisions. Remarkably, 76% of consumers reported that offering reduced-price products enhances their perception of value for money in a grocery store, with 35% noting a significant improvement. When it comes to product categories, consumers expressed the greatest desire for price reductions on meat, particularly Baby Boomers, with interest rising to 45%. Based on our research, we recommend the following for creating the perfect label: - Use the color red. - Include the word 'reduced'. - Indicate the original price and, if possible, the percentage of savings. By understanding and responding to these preferences, retailers can not only increase sales of discounted items but also enhance customer satisfaction and perceived value. You can find the original study in the comments. #markdowns #foodwaste #grocery #operations #sustainability #ESG #labels #retailinnovation

Older consumers are leading the charge in buying private label store brands. Grocery Dive, June 2024, reports that 88% of shoppers 55+ say “private label provides a good value,” versus 75% of those 18-34. Grasping these insights into consumer perceptions can highlight competitive threats and growth opportunities. Focus on product availability, shopability, quality, differentiation, and price value to gain a competitive edge. Is this a knowledge gap for your team? Reach out to the SIVO, Inc. team at Contact@SIVOInsights.com for a custom learning plan. #privatelabel #competitiveadvantage #consumerinsights #shopperinsights #marketresearch #pricevalue

Uncovering the "why" behind the "what" is critical. Understanding private label brand perceptions can reveal competitive threats and growth opportunities. Dive deep into the differences in product availability, shopability, quality, differentiation (both functional and emotional), and price value. Does your team have a knowledge gap in this area? Connect with the SIVO, Inc. team at Contact@SIVOInsights.com for a custom learning plan. #privatelabel #competitiveadvantage #consumerinsights #shopperinsights #marketresearch #pricevalue