BOCA RATON, Fla.—The rocky economy is forcing Americans to tighten their belts on many consumables, and many retailers are noticing a spike in private label brands as shoppers look for food basket bargains.
Several executives at the Consumer Analysts Group of New York conference in Boca Raton reported that the rise of private labels has forced them to refocus their marketing and alignment efforts to remain No. 1 or No. 2 in terms of shelf space.
An article in AdAge reported private-label market shares grew 0.8 percentage points to 21.9 percent of volume and 0.7 points to 17.1 percent of dollars in all package-goods categories and retail channels last year including Walmart, according to Information Resources, Inc.