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1、 2022 Information Resources Inc.(IRI).Confidential and proprietary.November 29,2022Private Brands:Look Whos Buying NowPrivate Brands 20222 2Executive SummaryHistorically,consumers have navigated to store brand(also referred to as private brand or private label)products during challenging economic ti
2、mes.Current inflation and economic uncertainty would indicate that growth of private brands should be outpacing that of name brand products yet only modest gains have been made in private labels share of the consumer wallet.The Changing Shape of the CPG Demand CurvePrivate brands represent 17.5%of t
3、otal shopper dollars,a sign of recovery after maneuvering through the supply challenges that negatively impacted their on-shelf availability in the recent pandemic years after decades of growth.Growth of private brands is uneven among generational cohorts,segmented by affluency.Private Brand Loyalis
4、ts tend to be older and shopping for larger households;54%of Private Brand Loyalists have household income 27%of total dollars spent 33%33%Store Brand LoyalistStore brands 17%and 27%of total dollars spent 33%33%PredominantSwitchersStore brands 17%of total dollars spent 33%33%Name Brand Loyalist15Who
5、 is the Store Brand Shopper?Source:IRI Consumer and Shopper Insights Advantage,Total US-All Outlets,Latest 52 Weeks Oct 2,2022,NBD alignedStore Brand Loyalists,relative to Name Brand Loyalists,tend to have larger households,lower income,are less urban,are homeowners and are white.Households where pr
6、ivate label is greater than 27%of total dollar spend are considered Store Brand Loyalists:Name Brand Loyalists:17%27%of Name Brand Loyalist%of Store Brand Loyalist59%62%54%55%77%76%36%68%72%51%59%70%67%46%1-2 Person HHNo KidsMillennial/Gen XUrbanWhiteOwn HomeHH Income$50MMStore brands in snacking ca
7、tegories such as refrigerated spreads like humus,frozen appetizers and shelf stable meat like pepperoni and sausage that are suitable for charcuterie board grazing,are riding high on thesnacking trend.YE 10/9/22Point Change vs.YASpreads Refrigerated32%10Fresh Eggs64%4Frankfurters6%1Appetizers/Snack
8、Rolls FZ11%2Shortening and Oil44%3Meat Shelf Stable24%2Processed Poultry FZ/RFG18%1Chocolate Candy3%0Bread/Dough FZ23%2Gelatin/Pudding Mixes12%229Beverage Department:Private Label Growth Continues in Beverage Categories Where It Has Had a Strong PresenceStore Brand Categories Top 10 Fastest GrowingI
9、ncludes all shelf stable and refrigerated beverage and excludes alcohol and refrigerated milk.Source:IRI Omni Scan Panel,Total U.S.-All Outlets,Latest 52 Weeks,Oct.9,2022,NBD alignedCategories Where Store Brand Sales$50MMThe energy drinks category is dominated by name brand competitors,but private b
10、rand have found an avenue to growth.Private brand coffee creamers have been competing with name brands for many years but continue to innovate and gain share.Store Brand$Share of CategoryPoint Change vs.YAEnergy Drinks2%1Coffee Creamer Shelf Stable25%6Drink Mixes17%3Bottled Water33%3Non-Fruit Drinks
11、 Shelf Stable12%0Milk Flavoring/Cocoa Mixes8%1Liquid Drink Enhancers27%2Carbonated Beverages2%0Coffee15%1Cocktail Mixes12%130Walmart Helps“Set the Holiday Table”with 2021 Prices Source:https:/ help consumers flight inflation,Walmart is providing Thanksgiving basics for the 2021 price,including turke
12、y,ham,potatoes and stuffing,as well as favorites like ready-to-heat mac and cheese and pre-made pumpkin pie.Savings apply to holiday meals through December 26,2022.31Lidl and Aldi Promote Thanksgiving Meals for Less than$30Source:OmniConsumer Survey,September 13-22,2022,base 821 primary shoppers age
13、d 18+;https:/ shoppers report theyre shopping value grocers like Aldi and Lidl to save moneyLidl meals feed up to 10 people and are modeled after items selected by the American Farm Bureau Federation for its annual Thanksgiving Dinner Cost Survey.22%22%32Family Meals and Friendsgivings:Younger Consu
14、mers Pick Up the Thanksgiving Baton The pandemic empowered a new generation of cooks,and more young people are participating in the holiday meal.There will be an average of 7.4 people at the Thanksgiving table this year,but that number jumps to 9.8 for Gen Z and younger Millennials(32).The oldest co
15、nsumers,seniors and retirees anticipate 6 people at the table.Total Gen Z/Younger Millennial Under Age 32Older MillennialAges 32-40 Gen XAges 41-56Younger BoomersAges 57-65Older BoomersAges 66-75Retirees and Seniors Ages 76+Prepare a special meal just for myself/my HH31%17%37%35%37%26%15%Host or att
16、end a meal with extended family who does not live with me35%52%39%34%28%34%25%Host or attend a meal with friends9%18%10%9%8%6%5%Travel out of my state to attend a celebration at someone elses home7%18%11%5%5%2%5%33Limited Assortment Value Retailer(LAVR)ShoppersValue Proposition,Store Formats Appeal
17、to Shoppers Across All GenerationsLAVR is a subset of FOOD Channel in Omni Scan PanelSource:IR Survey and IRI Omni Scan Panel,Total US-All Outlets,Latest 52 Weeks Oct 9,2022,of shoppers say theyre shopping limited assortment value grocers like Aldi and Lidl to save money22%22%of total food channel*e
18、dibleshare of wallet spent in LAVR among LAVR shoppers24%24%of total food channel*store brand edible share of wallet spent in LAVR among LAVR shoppers49%49%3434Private Brands Appeal to Young Shoppers with Convenience,Healthy Attributes and Flavor AdventureTrendy convenience chain,Foxtrot,offers edgy
19、 own brand products,including spicy dill pickle and“Good&Hot”potato chips.Grab-and-go snacking is back.Targets Good&Gather brand includes brownie batter dessert hummus with pretzels.Whole Foods kicked off 2021 with products that support healthy resolutions,including its own brand,365 coconut water.3
20、535Private Brands Reflect Consumer Demand for Convenience and Meal Short CutsWhole Foods 365 products include vegetarian small bites quiches,perfect for entertaining or as a convenient meal.Elevating the Everyday:ShopRite features a selection of meatballs,including Meatballs with Romano cheese.Kroge
21、rs Private Selection includes Angus beef patties with applewood smoked bacon and cheddar cheese.3636Albertsons Private Brand“Fresh Picks”Product Awards Recognize Indulgent,Convenience and Breakfast Occasion Innovation SHOPPER SELECTED In the Treat Yourself Combo Category,Signature Select Ice Cream p
22、aired with Signature Select Store Baked Cookies.The ice cream line includes whimsical flavors that bring the ice cream parlor experience into the home.Runner up in the Good For You Favorite category was Open Nature Gluten Free Cauliflower Crust Roasted Vegetable Pizza.Treat Yourself Combo Go-To Easy
23、 Meal Good For You Favorite Grab-and-Go Kid Favorites Breakfast Nosh Adult Beverage3737Publix Names Its Top Private Brand Products,Manyof Which Target Celebrations and Restaurant Quality CUSTOMER CARE TEAM SELECTED Red Velvet Cake Buffalo Style Chicken Breast Dip Collaboration:Boars Head Jerk Turkey
24、&Gouda Sub38Private Brand ImplicationsEven as private brands grow share with shoppers,the current high-inflation environment is an opportunity for retailers to secure loyalty that extends beyond this challenging period.Source:IRI Consumer Survey,September 2022Invest in innovation that supports the s
25、tore mission and creates a point of differentiation.Consumers are not necessarily shopping for the lowest price point.Focus on the future and who the store consumers will be,which will differ by channel and store format.The opportunity with younger consumers is engaging them early with store brands
26、to create habits.Speak to the attributes that matter to this cohort,including flavor adventure,sustainability and convenience.Support store brands in a similar fashion to name brands.Just being on shelf is not enough.Product consistency is critical to meeting consumer expectations and driving sticki
27、ng behavior.Building trust through consistency can extend to other products in the portfolio.Consumers dont change their shopping habits easily.During this period of high inflation,theyre making different choices based on financial constraints.Winning shoppers during this period with store brands ca
28、n secure loyalty for the Users Get New Thought Leadership from IRIs Research,Data&Analytics Experts40 2022 Information Resources Inc.(IRI).Confidential and proprietary.41IRI Thought Leadership Delivers Insightful and Provocative InsightsC-Suite Conversation Series18 conversations recorded to date wi
29、th transcripts,video and audio content.Demand Index Inflation Tracker E-Commerce Demand Index Supply Index Channel Shift Index Promotions IndexCPG Economic IndicatorsThe latest data on category trends,out-of-stocks,demand and supply,inflation,consumer sentiment and more.Industry-Leading Reports45+thought leadership reports published to date,reshaping how our client executives perceive us.WebinarsBlogsPodcasts42 2022 Information Resources Inc.(IRI).Confidential and proprietary.IRI