In the face of a cost-of-living crisis, consumers are increasingly won over by 'own label' products. This is driving exciting innovation and evolution in the category – so much so, that for the first time ever we have produced an Own Label categorywatching report – now live on trendhub.
In this new report we look at how the value proposition continues to evolve, and further opportunities.
More manufacturers than ever are looking into making own label often alongside brand. For retailers own label helps to provide differentiation and exclusivity; after all, you can only buy it from one place. While there is always room for brands that help to provide a deep emotional connection and consistent quality, the distinct space that own label occupies is growing.
We've collated three key takeouts below from the new categorywatching report to give a feel for what to expect in the full document. tfp trendhub subscribers can access the report in full via the link at the bottom of the article.
1. Price and Beyond –The value tiers of Own label continue to offer a simplified affordable entry point however, rising food costs are still effecting these ranges. NPD tailored to cheaper cooking methods like air fryers, and partnerships with influencers to make meals on a budget also drive value.
2. Sustainability –Cheaper cuts of fish mixed with legumes make affordable, tasty fish cakes – sustainable cues are still sought alongside value with a focus on sourcing and packaging.
3. Destination – Own label helps to make retailers a destination; after all you can only get it in one place. Exclusive organic pistachio spread, must have geometric easter eggs, or a collaboration with a restaurant such as the Iceland link with TGI Fridays on fake away ranges is a big draw.
--
Subscribers can access the full Own Label categorywatching report here. If you're not yet subscribed but are interested in accessing our regular reporting then get in contact via the link below.