Without Own Brands, Retail Shelves Would Be Sea of SamenessApril 13, 2017
Own Brands Now | April 13, 2017 – Every retailer claims they’re different from their competitors. But are they, really?
According to a recent study conducted by Daymon, retail shelves are predominantly stocked with the same national brand items. When it comes to food retailing in particular, up to 98% of the national brand products carried by a retailer are also carried by its competitors.
The good news is that there are other ways for retailers to differentiate themselves — and a retailer’s own brands play a key role in differentiation. According to the study, while only 9% of all branded items have a store brand equivalent, sales of private labels account for 20% of all sales. In fact, 2% more sales stem from unique private brands than unique national brands.
In addition, unique own brand offerings engender greater loyalty and higher customer satisfaction, according to the study.