Culinology -- March 2014 - (Page 46)

PETITS FOURS Private label vs. brands grew one point, to 17.6%, while dollar share climbed less sharply, to 16.9%. Though private label share inched up slightly in the convenience channel during the same time period, it remains well below the industry average, at 2.4% and 1.7%, respectively. Private label's strength across the drug and convenience channels is attributable to a number of factors, including retailer efforts to broaden and enhance private label programs, according to I.R.I. The club channel is demonstrating the strongest private label share growth - growth that is occurring across both heavy and light purchasers of private label products. The growth brought the channel nearly $1.4 billion more in private label sales from heavy and light buyers in 2013 compared with 2010. In the coming months and years, consumers will continue to look to both national brands and private label solutions to find the best value, according to I.R.I. To deliver, marketers from both sides must focus on one or more growth strat- Private label is here to stay, according course, consumers are shopping con- egies, including deepening penetration, to Information Resources, Inc. (I.R.I.), servatively and looking for money-saving fracturing concentration and strengthen- and it would be in the best interest of options, so they have embraced private ing price and promotion strategies. both private label and national brand label. However, national brands remain "Private label is clearly here to stay," food and beverage marketers to iden- critical. In this environment, manufac- Ms. Viamari said. "For private label to tify ways to coexist and benefit mutually. turers and retailers must work together prosper, it is critical for private label I.R.I. staked its position on the subject in to provide a balanced assortment of marketers to understand the role of their its latest Times & Trends report "Private national and private label solutions, tar- brands in relation to competing national label and national brands: Paving the geted at the store level, to offer the best brands. And, national and private brand path for growth together." overarching value." marketers must step up their collabora- "While some industry experts believe The market research firm said pri- tive focus, directing their efforts to retail- private label has 'had its day,' I.R.I. be- vate label sales inched up slightly during er/manufacturer partners that 'best fit' lieves that private label and national 2013 when compared to 2012. But de- their strategic goals and objectives. brand marketers can enjoy mutual spite the fact the market appears to be "This type of strategic collaborative growth by not simply co-existing, but holding steady, there has been category marketing partnership will increase sales rather evolving and working together to movement within specific retail chan- and strengthen customer loyalty by get- serve the full spectrum of consumers' nels. Private label performance within ting the right products to the right place needs and wants," said Susan Viamari, the drug channel, for example, has been at the right time, with a targeted value editor of Times & Trends for I.R.I. "Of strong during the past year. Unit share proposition." 46 | Culinology | MARCH 2014

Table of Contents for the Digital Edition of Culinology -- March 2014

Culinology -- March 2014
Table of Contents
President's Letter - A journey into the future of food
Emerging Trends - Stevia’s use as ingredient may more than double by 2017
The scoop on salty snacks
Most consumers won’t try new items
Ingredient Innovations - Gluten-free innovation
Flavors - A Perfect Pair
Member Profile - All That Jazz
Trends - What's Next
Petits Fours - Private label vs. brands
Freshness will be in favor during 2014
Omega-3 claims losing share in dairy segment
Upcoming Events/Ad Index

Culinology -- March 2014