LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has announced the completion of their latest article on the reasons behind soaring private label success in the European retail industry. In this article, experts at Infiniti examine the key drivers for private label growth in Europe and also highlights how companies in the retail industry can better capitalize on such trends.
In the European retail industry, there is currently an unprecedented prominence of private labels. According to our industry experts, the sales and market share of private label brands have climbed to an all-time high in countries including Belgium, Netherlands, Austria, Denmark, Poland, Sweden, and Norway. Some of the key drivers behind the success of private labels include the expansion of retailing around the world, the emergence of e-commerce, the success of discounters, and changing millennial shopping habits. Furthermore, with intensifying competition in the retail industry, private labels have grown to include exclusive products aimed at increasing brand loyalty.
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Growth of Private labels in the European Retail Industry
The rise of millennials
Millennials are expected to outnumber baby boomers over the next decade as the generation with the highest discretionary spending power. Millennials are known to be experimental in trying out new products and consequently, private labels are becoming increasingly popular among this group. They demand products that do more, provide greater convenience and offer a variety of lifestyle options and are also known to undertake extensive research before buying products.
Private label is a secret weapon for retailers today. To use it right and maximize its potential, experts at Infiniti can help you as it has done with many companies in the retail industry. Get in touch with our experts for more insights.
In the UK, players in the retail industry use private-labels to reinforce an already-strong store equity position. Their major strategy has been to grow private-label sales. This can particularly be seen in fresh foods while reducing the range of packaged goods. Retailers are gradually expanding their private-label brands to include healthier options for consumers with special dietary needs and recommends looking for opportunities to remove, reduce or replace undesirable ingredients in their prepared foods. The benefits are also being prominently highlighted on packages and with in-store signage.
Private labels are being disrupted on many various levels due to the rise of ecommerce. Several top ecommerce companies are fragmenting the path to purchase and opening new opportunities for private labels. E-commerce platforms are opening up many doors to expand the sales of private labels.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us