Post by account_disabled on Jan 8, 2024 3:32:39 GMT
The economic uncertainty caused by the pandemic has created a new type of consumer, more conscious and cautious with expenses. As in any time of crisis, price has become a key factor in the purchase decision ; For this reason, private labels have experienced an increase of up to 10% in their market share , according to an analysis carried out by the startup Gelt . Specifically, it is worth highlighting these three key aspects of this increase: 1. Weight in purchases According to Gelt, who analyzes more than 800,000 purchase tickets each time, “since last January, private labels have gone from representing 37% of purchases to 47% .”
Its presence began to be especially notable just after confinement, in the month of April, although its peak increase took place in the months of August and September, with 46 and 47% penetration Phone Number List respectively. On the other hand, the most popular product categories when choosing private labels are (in order): cleaners (58%), legumes (47.7%), breakfast cereals (47.7%), milk ( 35.9%), detergent (30.5%) and coffee (30.2%). 2. Penetration among consumers Gelt analyzes have determined that 80% of consumers choose at least one white food brand on their shopping list; and the same percentage also opts for a generic cleaning brand.
On the other hand, alcoholic beverages also have high penetration volumes (60%), as well as personal hygiene items (59%) and cosmetics and beauty items (31%). 3. Factors that lead to the purchase of private labels The main reason for consumers to choose private labels is the quality-price ratio (77%) ; although 38% state that their only reason is that they are cheaper than other brands. On the other hand, 27% point out the variety as an incentive and 26% say they choose them when they cannot find any of their favorite brands in the offer. “This study demonstrates how price is positioned as the fundamental variable in preparing the shopping list (…). It is clear that all this will definitively influence the pricing policy of brands this fall,” comments Carlos Prieto, CEO and co-founder of Gelt.
Its presence began to be especially notable just after confinement, in the month of April, although its peak increase took place in the months of August and September, with 46 and 47% penetration Phone Number List respectively. On the other hand, the most popular product categories when choosing private labels are (in order): cleaners (58%), legumes (47.7%), breakfast cereals (47.7%), milk ( 35.9%), detergent (30.5%) and coffee (30.2%). 2. Penetration among consumers Gelt analyzes have determined that 80% of consumers choose at least one white food brand on their shopping list; and the same percentage also opts for a generic cleaning brand.
On the other hand, alcoholic beverages also have high penetration volumes (60%), as well as personal hygiene items (59%) and cosmetics and beauty items (31%). 3. Factors that lead to the purchase of private labels The main reason for consumers to choose private labels is the quality-price ratio (77%) ; although 38% state that their only reason is that they are cheaper than other brands. On the other hand, 27% point out the variety as an incentive and 26% say they choose them when they cannot find any of their favorite brands in the offer. “This study demonstrates how price is positioned as the fundamental variable in preparing the shopping list (…). It is clear that all this will definitively influence the pricing policy of brands this fall,” comments Carlos Prieto, CEO and co-founder of Gelt.