The private label market share will continue to grow over the next year in Europe, according to the recent study European Consumers Today, carried out by SurveyLab at the request of the PLMA (Private Label Manufacturers Association). The study shows that one in four consumers – from a sample of 10,000 across 14 European countries – believe they will buy even more private label products over the next year.
The survey also reveals that consumers will remain loyal to private label, even if the economy improves. Eight out of ten have stated that, when that time comes, they will not stop purchasing private label products.
Many of those polled indicated that there are some important drivers that will encourage them to buy more private label items in 2014. These include;
- Overall satisfaction with products bought (57%),
- Better Quality (49%),
- More special Offers on private label products, and
- More variety (43%)
Christophe Heurtevent, Senior Vice President for Southern Europe for Trace One – a platform for professional e-collaboration in the world of quality control for private-label products believes that “this study shows that private label plays a vital role in the lives of consumers across Europe, and that its market share will continue to grow. Private label is the perfect alternative for European consumers, since these products are faithful allies in order to save money without having to dispense with the quality consumers are increasingly demanding.”