Why today’s consumers are increasingly opting for higher value private label
For today’s savvy shopper, the presumption that higher price means higher quality has faded. A report from GlobalData revealed that 65 percent of EU consumers see Private Label as being a good alternative to named brands, and three out of five shoppers say they would pay a premium for higher quality ingredients.
That’s good news for category managers looking to make PL products a permanent feature of their offer, for value, competitive edge and assortment.
The trading-up trend within PL is being fuelled by a demand for new experiences from informed consumers. This new breed of shopper is health conscious, which has sparked a big increase in demand for nutritional and wholesome products.
Consumer trends are driving shopper behaviour
Shoppers are increasingly aware of the big issues, ranging from environmental concerns to animal welfare considerations, and are seeking products that offer answers. Wellness and provenance, as well as sustainability, are now to the forefront of many shoppers’ minds.
These trends can be maximised by dynamic Irish Private Label suppliers who have the agility and expertise to partner with European retailers thanks to many years of experience in the sophisticated UK market.
How high value Private Label food is innovating
Innovation within and across categories is challenging the traditional make-up of brand-led retail categories. High value Private Label products allow retailers to respond to consumer trends around convenience, on-the-go snacking and the desire for an eating-out-at-home experience. With own labels a key part of the growth strategy for most retailers, they are partnering with dynamic PL suppliers to quickly respond to the latest trends.
Many shoppers are working harder and longer hours than ever before, leading to a demand for easy and affordable food options. There is also a yearning for simplicity. Private labels are appealing to a wider audience now that their proposition has changed, and many have become exclusive destination brands.
How Irish Private Label can add higher value to your category offer
Irish PL manufacturers have been to the fore in meeting a demand for a eating-out-at-home experience, and bringing an element of excitement to everyday dining. They combine tradition, innovation and sustainability with gourmet ingredients. These best meet the requirements of customers who are increasingly proactive when it comes to their health, fitness and general wellbeing.
The Irish PL supply base has been providing products that genuinely earn the tag lines of ‘hand crafted’, ‘artisan’, and ‘luxury.’ While customers may be time-poor, they value flags of artisan origins and laborious processes and like to know the story behind what they are eating.
Irish PL exporters are continually innovating to meet the demand for an expanding top-tier that values individualism and self-expression. Right around the island, producers are creating high-end natural products, from cheese to non-alcoholic beverages, offering a point of status.
How Ireland’s Private Label is genuinely differentiated
In an uncertain world, buyers must constantly reassure customers that they are buying a quality product. The Irish Food Board, Bord Bia has created a national sustainability plan, Origin Green – a world first. This is an initiative that reflects efforts from farmers and farm organisations up to statutory bodies to maintain that best-in-class approach.
In the dairy industry, Irish farmers are responding to the need for sustainable sytems that can be independently verified. Smaller dairies are having a big impact. When it comes to alcoholic drinks, craft and authenticity matter more now.
Irish PL ranges are also meeting requirements for ‘free-from’ assurances whether this relates to animal welfare or special dietary requirements. Today’s consumers are looking for assurances in areas like ‘gluten-free’; ‘non GMO’; ‘vegan’; ‘no sugar added’; and ‘certified organic.’ Irish PL producers provide all these and more.
For buyers whose higher value offering is a little limited, the Irish PL supply base can help their profitability by providing an unbeatable combination of quality and value, that resonates with discerning European households.
Boost your category
Are you interested in hearing more about what Irish Private Label can do for your food retail business? Get in touch to talk to us today.