For a majority of Americans, the country’s economic struggles are impacting nearly every aspect of daily living. Within the packaged goods arena, the effects of the economic downturn have been nothing less than profound.
Manufacturing costs are climbing, profit margins (for manufacturers and retailers) are being squeezed to the breaking point, channel migration activity has escalated, and consumer shopping attitudes and behaviors are shifting rapidly in the face of economic uncertainty.
Private label is well-positioned to compete in these difficult conditions. In fact, retailers are increasingly leveraging store brands as a key aspect of their differentiation strategies.
The evolution of private label has coincided perfectly with the emerging CPG needs of our country. With economic woes in the headlines daily and consumers grappling to stay afloat amid escalating financial strains, private label has become a formidable force in the packaged goods industry.
This report provides insight into current and emerging private label trends that will enable manufacturers and retailers to develop and execute private label strategies that align with overall corporate goals while simultaneously addressing the rapidly changing needs of U.S. shoppers in crisis.