Store brand food and beverages represent an opportunity for retailers to distinguish themselves from competitors, yet sales have grown slowly since 2010 and are forecast to continue at this pace.
Executive Summary
The issues
Slow growth projected
Figure 1: MULO sales and fan chart forecast of private label food and beverages, at current prices, 2010-20
Store brand share of sales remains flat
Figure 2: Total and private label MULO food/beverage share of sales, at current prices, 2010-15
Brand transparency is an issue for a majority of buyers
Figure 3: Attitudes toward store brand products – Transparency, November 2015
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The opportunities
Targeting key buyers: Millennials, family households, Hispanics
Figure 4: Percentage of grocery spend on store brands, by key buyer groups, November 2015
Millennials likely to gravitate toward brand stories that provide transparency
Figure 5: Attitudes toward store brand products – Transparency, by Millennials versus non-Millennials, November 2015
BFY drives purchases
Figure 6: Factors that increase the likelihood of store brand purchase (any ranking) – Healthiness, November 2015
What it means
The Market – What You Need To Know
Sales growth slow, driven mostly by price inflation
Private label food accounts for more than 78% share
Private label and total MULO grow at similar pace
Improved quality, key demographics help drive sales
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Market Size and Forecast
Slow growth projected, price inflation largely driving growth
Figure 7: MULO sales and fan chart forecast of private label food and beverages, at current prices, 2010-20
Figure 8: MULO sales and forecast of private label food and beverages, at current prices, 2010-20
Market Breakdown
Private label food sales share far outweighs beverage sales share
Figure 9: MULO sales of private label food and beverages, by segment, 2015
Private label food sales expected to gain more quickly than beverages
Figure 10: MULO sales of private label food and beverages, by segment, 2010-20
Market Perspective
Private label sales growth on par with total grocery; share change is flat
Figure 11: Total and private label MULO food/beverage sales and private label share of total, at current prices, 2010-15
More product transparency could help store brands compete with national brands
Figure 12: Attitudes toward store brand products – Product transparency, November 2015
To Download Sample Report With TOC: http://www.researchmoz.us/enquiry.php?type=S&repid=600088
Market Factors
Private label quality and selection has improved
Figure 13: Attitudes toward store brand food products – Perceptions of quality, November 2015
Millennials, Hispanics, and households high store brand buyers
Millennials – the most populous generation – very likely to buy
Figure 14: US population by generation, 2010-20
Hispanics likely to buy store brands, projected to grow significantly into 2020
Figure 15: US population by race and Hispanic origin, 2010-20
Presence of children factors significantly; percentage of households with kids down
Figure 16: Households, by presence of own children, 2003-13
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Mr. Nachiket Ghumare, +1–518–621–2074
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