September 27th, 2009 | 
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Check out consumers’ continued taste for private label items.
In the past 12 months, private label’s unit and dollar share of the U.S. market have grown, according to a report by research firm Information Resources Inc. Unit share grew 1.2 points to 22.8 percent, while dollar share inched up 0.7 points to 17.6 percent.
“The popularity of private brands will continue as a result of several factors,” IRI Consulting and Innovation President Thom Blischok said in the statement. “These products offer a very strong value proposition based on quality as well as price. In addition, shoppers will continue their frugal shopping patterns long after the recession ends. And, retailers’ increasingly sophisticated private brand strategies will attract a larger and more diverse shopper base.”
In many categories, private brands now are able to compete on quality as well as price, while retailers continue to increase the breadth and depth of their store brand offerings, IRI said.
Also in the basket:
Visa extends sponsor deal with NFL through 2014
ConAgra raises 2010 profit view
Cadbury CEO Eases Talk About Bid From Kraft (Wall Street Journal)
Survey Finds Wealthy Less Keen on Luxe Category (WWD, subscription required)
(Reuters photo)
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