A new report has revealed that the current global economic slowdown is set to drive private label sales growth in "virtually all" major markets as companies focus greater attention on private label strategies.
The Planet Retail study, entitled 'Private Label Trends 2009', said that discount retailers continue to lead the way with a higher proportion of private label sales. Aldi currently heads the list with over 94 per cent of total sales attributed to private label products, the report said.
Alongside a focus on pricing, the research highlighted an increase of consumer confidence in private label products, forecasting an increase in global sales until 2013 – particularly in growth markets such as India, Brazil and Mexico.
Meanwhile, the report identified a growing trend of emerging 'hybrid' forms of private label products through cooperation between retailers and manufacturers.
"Retailers are cherry-picking consumers at both ends of the markets by developing their economy ranges as well as premium lines," said Matthias Queck, private label specialist and retail analyst at Planet Retail. "This will intensify the arguments with brand suppliers."
To purchase the complete report, visit the Planet Retail website