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Private Label Continues to Advance
AUGUST 12, 2009 --
Increasing numbers of U.S. consumers are turning towards private label foods as a result of the economic downturn that has combined with increasing food prices to force shoppers to look for bargains.
A new report from just-food, which examines the growing US market for private label foods, says private label has expanded nearly 60 percent since 2003, accounting for over 19 percent of market value, up from less than 15 percent. Overall market share has increased from about 20 percent in 2003 to 24 percent.
Numerous U.S. supermarket companies are jumping on the private label bandwagon. The latest example may be Nash Finch, based in Eden Prairie, MI, which plans to expand its private label line, Nash Brothers Trading Co., from its current lineup of 54 products to more than 420 by 2011.
The company says the brand will eventually have its own chief executive officer and be sold at supermarkets other than those operated by Nash Finch.
Supermarket operators continue to aggressively promote their private label products. For example, Spartan Stores, Grand Rapids, MI, is hosting a contest this summer to promote its private label products. Consumers are invited to take a picture of their favorite Spartan-brand product on their next vacation or outing and send it to the company with a story about how, when, where and why the Spartan product was used. Judges will select 20 prizewinners in September.
At Food Lion, the company’s seven private label brands are being promoted online with a game, sweepstakes and $5 coupons, and a chance to win up to $200 in Food Lion private-label products. The promotion ran through August 6.
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