Private labels skyrocket in 2021
According to a Focus Bari report the market of private labels seems to have grown tremendously within the last twenty years.
Consumption of private labels at the Greek supermarkets has skyrocketed at 94% in 2021 according to the latest study conducted by Focus Bari via the Focus Bari | YouGov private online panel.
The market of private labels seems to have grown tremendously within the last twenty years, comparing results of three national studies : Το 2000, ο ένας στους δύο Έλληνες καταναλωτές (50%) αγόραζαν τακτικά/συστηματικά τουλάχιστον ένα είδος σε private label.
In 2000, one in two Greeks (50%) regularly purchased at least one product category of private labels.
This proportion is found at 77% in the study of 2010, and has reached 94% in the July 2021 study.
What also seems impressively increased is the variety of different product categories that consumers prefer to buy in private labels : with toilet paper and napkins at the top, followed by detergents and cleaners, around 40 different product categories are purchased in private labels at the Greek supermarkets.
Interestingly, both in the 2010 and the 2021 studies, the majority of consumers perceive private labels as “value for money products”, yet…
If a branded product is found at an offer or a price approaching that of the private label, the majority of consumers tend to prefer the branded one.
An important outcome of the analysis is that brands hold their power, provided they approach consumers with empathy in view of the squeezed economic & pandemic conditions