Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format. With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

Get it on Amazon (Kindle/Print)

Consumers turn to private brands for value, not price

Private brand sales growing twice as fast as national brands

IRI examined how such shopping behaviors and attitudes are affecting private label sales in its Q3 2019 Consumer Connect report, entitled "Beyond Price, Consumers Find Value in Private Brands". The Consumer Connect Index, which monitors consumers' financial health and CPG behaviors for factors such as brand loyalty, attitudes toward organic/natural food and beverages, perception of national compared to store brands, and frequency of using retailers' and manufacturers' coupons, decreased by almost three points in Q3 2019.

However, consumers feelings about their household's financial health in Q3 2019 is on par with sentiment in Q3 2018. Despite that fact, consumers are increasing their savings to maintain financial stability as a precaution in the event of an economic downturn. Consumers report they are saving more in 2019 (42%) compared to a year ago (38%), and 56% of households earning $100,000 or more say their savings have grown in the past six months. The rate of increased savings is fairly consistent across all generations but is most common among Generation Zers.

"While shoppers across generations and income groups in 2019 are undoubtedly more price conscious, they are turning to private label because of their positive perceptions of the value," said Joan Driggs, vice president of Content and Thought Leadership. "Shoppers are buying private brands because it makes them feel good to save money without sacrificing taste, selection or quality. The improved consumer perception of private label value is having a growing influence on store choice, with many leading retailers offering premium private label selections."

Popularity of Private Label
Across generations and income groups, consumers are buying private label, with 99.9% of shoppers buying private brands today. Faced with a vast selection of consumables in a typical store, consumers see private label as a go-to solution in the stores they trust. As a result, traditional retailers are doubling down on their store brand strategy and are offering more premium selections.

Younger, senior and low- to middle-income consumers are key targets for private label growth. Millennials demonstrate the highest adoption of private label products, increasing 10% in 2019 from 2018, outpacing their adoption of national brands. Millennials are moving into higher-spending years, so demonstrating value, quality and innovation will be key to continued adoption.

Among categories, home care is showing above-average growth, whereas other nonedible departments' growth rates are slowing. Across edible departments, private label unit sales growth slowed, but frozen and beverage are outpacing total category and national brand sales in Q3 2019.

"Private label is experiencing growth that outpaces that of national brands and has increasing influence on store choice among consumers, especially among Gen Z," continued Driggs. "However, there remains room for improvement. Packaging image has been found to be a purchase barrier among millennials and light buyers. In addition to packaging, retailers should continue to find ways to innovate. Don't wait for national brands to lead with trends, such as plant-based, functional and wellness products."

Have you seen How To SELL Anything?

This incredible sales handbook distils an expert's lifetime of sales and marketing experience and hands it to you on a platter, in a simple, easy-to-follow format.

With existing customers being the most valuable source of income for any business, this book will teach you how to increase your return business and make more profit from your most loyal customers - and even how to reduce the costs of dealing with your least profitable customers.

You'll learn to sell yourself, sell your products, and sell your brand on the internet, writing high-conversion landing pages, social media posts, and more. You'll start attracting customers you didn’t even know existed, and learn the top trade secrets for customer retention.

You'll become a lean, mean selling machine. See how the experts do it and learn to adapt what they've done for your own profit. You'll learn to write strong, powerful, effective sales copy, whether it's for a sales script, sales letter, flyer, insert, advert or just about anything else.

You'll learn how to sell whether you're selling by telephone, by mail, or even meeting prospects face-to-face. You'll find out how to size them up, present yourself, nail down their true needs, close the sale, and learn to tackle the tricky ones.

You'll discover the biggest secrets of successful direct mail sellers, sales letter writers, and how to segment and choose the right prospects for each campaign.

Get it on Amazon (Kindle/Print)