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Economic trends mean major growth for private-label brands

Store brands continue to grow and Resolute Tissue is growing with them, through its private-label portfolio.

As general economic uncertainty continues in North America, value-conscious consumers are embracing low-cost store brand and private-label options.

Carli Gernot, Mintel’s Trends Manager for North America, says, “Tighter budgets will cause many consumers to re-evaluate whether their go-to choices are worth the cost and brands need to be able to respond accordingly.”

Private-label brands can expect big sales gains ($64 billion) from national brands over the next decade according to Cadent Consulting, a leading U.S. consumer goods marketing, sales and retailing organization. Cadent sees store brands gaining 8 points in dollar market share by 2027, climbing to nearly 26%.

Cadent warns national brands that “no single manufacturer can escape the impact of private-label growth.” The consulting firm foresees “a breakout from the long-term cyclical pattern,” which “should mean a sea change to lift all private-label” producers.

Brands that engage with low spenders and develop low-cost alternatives should enjoy increased attention from those looking to save in the coming year.

 

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