Optimizing private brands into a new channel for retailers to attract traffic

With the upgrade of consumption, private brands featuring high cost-effectiveness have been favored by more and more consumers, which has also led many retailers to increase their investment in private brands

There is still a lot of room for improvement

Own brand, also known as store brand, refers to the product controlled by the retail enterprise from design, raw materials, production to distribution, produced by the supplier designated by the retail enterprise, and sold in its own store

Industry insiders said that affected by factors such as international relations and the epidemic, consumers have become more rational now.

"During the epidemic, after experiencing a lot of changes and uncertainties, there have been some changes in consumers' preferences.

"We do see some shifts in categories like deli, lunch meat, bacon, dairy, where customers are moving from branded to private label

Industry insiders said that during the epidemic, the frequency of consumers cooking and eating at home increased, which drove the sales of packaged food and processed food, which also promoted the gradual maturity of the infrastructure of the processed food industry chain, making food its own brand for retailers.

At present, private brands in the Chinese market still have a lot of room for growth

"The opportunity is getting bigger and bigger

After years of development, private brands have transformed from a stage of attracting consumers with low prices to a stage of personalized and high-quality development

Opportunities and challenges coexist

It is not difficult to see that the development of private brands has entered the fast lane, and its proportion will continue to increase in the future

"We are welcoming development opportunities, but we also face many challenges

"We need to make new ideas in the food business, take the trouble to introduce new products, form a mechanism, and ensure the survival rate of new products

In terms of rejuvenation, both the purchasing team and the suppliers must be rejuvenated

　　At the same time, it must have strong market integration capabilities

　　In addition, the development of private labels and the relationship between brand owners are also important

　　In Chen Jia's view, this kind of internal strength cannot be successfully cultivated in a short period of time

　　(Comprehensive arrangement by Zhou Yan)

"China Food News" (version 02 on June 9, 2022)

　　(Editor-in-charge: Gu Yufei)