Private Label Food Fight: Walmart, Aldi, Amazon, Dollar General, Costco Battle For Consumers’ Food Budgets
Have you noticed a surge in private-label brands at your local grocery store? It's no coincidence - major retailers are using them to attract and retain customers.
Store brand sales rose by 11.3% last year, nearly double the growth of national brands. Walmart’s Great Value and Equate store brands are leading the way, but competition is heating up from retailers such as Dollar General, Aldi, and Amazon. Even Costco and Sam’s Club are battling over the price of their hot-dog-and-soda combo.
Read on to find out which brands are dominating the market and what the future holds for this food fight.
This Week's Retail Rundown:
Retail Industry Question
Rue21's Data Driven Triumph - Speeding to Market and Mastering Price Optimization
The world of retail is no cakewalk, especially when it comes to selecting the right products to showcase on your shelves. With limited space, interrupted supply chains, and ever-shifting customer preferences, it’s tough to keep up with the competition. That’s why predictive analytics are the name of the game when it comes to staying ahead of the curve.
One shining example is Rue21, who swapped out their in-store testing for digital product testing.
"We were able to use the First Insight tools to see where we could capture the bulk of the demand." - Chief Merchandising Officer, rue21
The results? Faster and more accurate feedback on product assortments, a deeper understanding of customer segmentation and pricing strategies, and an impressive?$2 million in cost savings on a single product thanks to?price optimization. ?Now that’s what we call a smart business move!
领英推荐
Goodbye Forever Chemicals – It’s Time to Look for Alternatives
Minnesota is?leading the charge ?in America’s fight against toxic PFAS by banning its use in household products. This is a major win for public health and the environment! However, the new law won’t go into effect until 2025, giving manufacturers time to come up with alternatives.??
But let’s face it, finding a replacement that performs as well as PFAS is no easy feat, and it comes with added costs and processes. That said, some companies have already made the switch to safer materials, and smaller businesses need to be aware of what’s in their products. Manufacturers should start by figuring out where PFAS exists in their suppliers and how to absorb some of the added cost of non-toxic alternatives.??
I Am Not a Robot ?? – Integrating Human Validation for Enriched Data Collection
At First Insight, we believe in continuous innovation to provide you with the best in Voice of the Customer (VoC) retail solutions. We're thrilled to announce a step forward in our pursuit of quality and authenticity with the integration of human validation tools for enriched data collection.? ?
What Does This Mean for You?????
Dive deeper to see how we're setting new standards in consumer interactions and enriching our solution to provide cutting-edge insights for the world's top retailers and brands.?
Retail Industry Question - Answer
About First Insight?????
First Insight is the global leader in Voice of the Customer retail solutions, transforming business decision-making through actionable consumer insights and AI. Our platform enables retailers and brands to boost revenues and profitability by informing strategic decisions with consumer data and removing guesswork. Trusted by hundreds of leading retailers, vertically integrated brands, mass merchants, and wholesalers, First Insight leads in optimizing strategy, product, pricing, and marketing decisions.
Visit?www.firstinsight.com ?to learn more, or if you're interested in harnessing the power of First Insight's Retail Decision Platform for your business,?let's chat !