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New Insights:
Winning the Private Label Race
September 26, 2024
A glimpse at the private label landscape and how brands and retailers alike must uplevel strategies to compete.
Competition across the retail landscape is constantly heating up. This month alone, Amazon launched a new private label line, Amazon “Saver,” Albertsons released “Overjoyed” focused on sweet treats, decor and gifts, Walgreens debuted its premium private label skincare line and more, intensifying competition for retailers and CPG brands alike.
How can brands compete when value alone isn’t enough?
Well, InMarket’s CSO Michael Della Penna said it best in an interview with Food Institute on the Value Wars:
“At a certain point, there’s only so far you can cut prices. Whether you’re a restaurant, retailer, grocer or brand in this ‘race to the bottom,’ you need to take a step back and analyze what your customers are looking for in addition to low costs. Is it the convenience factor? Is it better quality? Is it new products or flavor profiles or a health benefit?” said Della Penna.
Finding that competitive edge starts with in-depth insights into your performance, immediate competition and even adjacent categories like QSRs and Fast Casuals that might be winning the hearts and dollars of your target audiences.
Understanding these challenges, InMarket recently hosted a series of webinars highlighting the latest shifts in private label spending.
Don’t overestimate the power of your brand name or category loyalty.
One of the most critical findings was that consumers are open to trying more private label categories even in categories that have brands with high loyalty, including soda, coffee, breakfast items, dairy, condiments, OTC and more.
How can InMarket help?
InMarket is uniquely positioned to help you not only better understand opportunities and challenges facing your brand and category, but activate on those insights to craft engaging, data-driven, real-time campaigns that can reach target audiences in the moments that matter most throughout the customer journey—while they’re actively planning their shopping trips and in market making purchase decisions.
Interested in learning more about how your brand and/or products stack up in the Value Wars? Reach out to your InMarket sales representative or contact us today.