2018年-尼尔森欧洲_TheRiseandRiseAgainofPrivateLabel_21页_1mb

The Rise and Rise Again of Private Label

Core Content Overview

The document outlines the growing significance of private-label products in the global food industry, emphasizing their increasing market share and evolving role in consumer choices. It discusses the impact of economic conditions, demographic shifts, and technological advancements on private-label growth, as well as the strategic implications for brands and manufacturers.

Main Trends and Key Points

• Global Growth of Private Label: Private-label products are gaining market share across all major regions (EU, NA, LATAM, APAC). This growth is driven by a combination of factors including store expansion, e-commerce, and changing consumer expectations.

• Consumer Perception: Consumers increasingly view private-label products as equivalent or even superior to multinational brands, especially in terms of quality and value. This shift is evident in categories like organic and natural foods, premium private-label items, and convenience foods.

• Economic Factors: Private-label growth is often linked to economic downturns, as consumers look for cost-effective options. However, even in recovery phases, the trend continues due to sustained value-conscious shopping habits.

• Millennials as a Key Driver: Millennials are expected to become the dominant demographic in FMCG spending over the next five to ten years. They are more open to trying new products, including private label, and are highly value-conscious, making informed purchasing decisions.

• Premiumization of Private Label: In many markets, private-label products are moving into premium categories, offering high-quality, affordable options. This trend is supported by legislation that ensures food safety and origin, and by consumer demand for health and wellness.

• Trade Structure Disruption: The expansion of modern retail chains, especially discounters like Aldi and Lidl, is a major catalyst for private-label growth. These retailers offer a lean product range, lower prices, and focus on affordability and convenience, leading to a shift in consumer spending from branded to private-label products.

• E-Commerce as a Disruptor: Online grocery shopping is expected to grow significantly, with a projected 20% share of online grocery spending by 2025. This shift creates new opportunities for private-label brands to compete through digital platforms.

• Local Retailer Success: Local retailers like Mercadona and Tesco are leveraging private-label to meet consumer needs, offering high-quality products at competitive prices. Their strategies emphasize innovation and relevance to shopper lifestyles.

• Strategic Implications for Brands: Brands must adapt to the changing landscape by focusing on value, innovation, and differentiation. The rise of private-label presents both a challenge and an opportunity, especially for smaller manufacturers who can capitalize on niche markets.

Key Statistics

• Private Label Growth: In the U.S., private-label products grew by 2% in 2017, outperforming manufacturer-branded products.
• Economic Outlook: Global GDP growth is projected to rise from 3.1% in 2016 to 3.6% in 2018.
• Discounters' Impact: In Europe, discounters now account for 22% of FMCG sales, up from 17% a decade ago.
• Online Grocery Projections: By 2025, online grocery spending could reach $100 billion annually, equivalent to about 3,900 grocery stores.

Future Outlook

The document highlights three inflection points that will shape the future of private-label growth:

1. Economic Cycles: During downturns, consumers shift to private-label for cost savings. Even during recovery, the trend continues as value-conscious behavior persists.
2. Global Consumer Trends: Consumers are more informed and willing to make trade-offs based on product range, price, and availability. Brands must respond to these trends with innovation and value.
3. Digital Integration: The fusion of online and offline shopping will create new consumer journeys, with private-label brands well-positioned to benefit from this shift.

Conclusion

Private-label products are becoming an essential part of the retail landscape, driven by economic conditions, consumer preferences, and technological advancements. As shoppers demand more value, health benefits, and convenience, private-label will continue to grow, challenging traditional brands and offering new opportunities for innovation and market expansion.