Grocery Doppio + FMI release survey of over 100 senior grocery executives
identifying key factors hampering private brand success
NEW YORK, Feb. 21, 2023 /PRNewswire/ — Grocery Doppio, a free, independent source of grocery insights and data operated by next-generation industry insights firm Incisiv and digital commerce and fulfillment solutions provider, Wynshop, today unveiled its State of Digital Grocery: Unlocking Private Brand Growth report, in partnership with FMI—The Food Industry Association.
The report, based on interviews with 117 senior industry executives, revealed fresh new insights about the state of private brands in the grocery market. This, and other up-to-date grocery industry reports are now available to download on the Grocery Doppio website.
Key findings from the State of Digital Grocery: Unlocking Private Brand Growth report include:
- Improving sales of private brands is a priority in 2023
—83% of grocery executives said that private label should be a C-level priority
—91% claimed to have a private label strategy and roadmap
—85% intend to increase the quantity of digital assets for private label in 2023, while 83% will expand their private brand digital marketing campaigns
- Private label lags name brand marketing in grocery
—97% of grocers deploy emails and 95% use banner ads for name brand marketing, but only 32% and 16%, respectively, do the same for private brands
—At 42%, digital circulars are the most widely used tactic for promoting private brands, but this, too ranks well behind deployment for name brands (86%)
- Grocers are dissatisfied with their private label performance
—Only 38% of grocery executives reported satisfaction with their current private label performance
—limited in-house business resources, inadequate budget, and limited software/solutions were cited as the top three factors holding private label marketing back
—They also cited digital asset quality (46%), diversity (44%), personalization (33%), quantity (32%), and automated delivery (17%) as key sources of dissatisfaction
“Grocery executives are in consensus that private brands are critical to growth in 2023,” said Gaurav Pant, Chief Insights Officer of both Incisiv and Grocery Doppio. “But they also agree that private brands need an overhaul to live up to their growth potential.”
“During the COVID-19 pandemic more shoppers discovered the value and quality of private brands,” said Doug Baker, vice president of Industry Relations, FMI—The Food Industry Association. “Food retailers realize the opportunity on the table for private brands and this research outlines ways to enhance marketing strategies to bolster private brands programs in new and creative ways.”
“Digital is the most effective and economical way to promote private brands,” said Barry Clogan, Chief Evangelist at Wynshop. “But with limited marketing department resources, grocers need sophisticated digital capabilities like omnichannel personalization and automated campaign deployment to capitalize on the private brand opportunity.”
Grocery Doppio is a free, independent source of grocery industry data and insights. Every month it releases research-driven industry reports, fact-based observations, inspiring perspectives, and performance benchmarks designed to help grocers jumpstart, accelerate, and sustain digital growth profitably.
To download State of Digital Grocery: Unlocking Private Brand Growth, click here.
To learn more about Grocery Doppio visit www.grocerydoppio.com.
As The Food Industry Association, FMI works with retailers, producers, and service providers from across the food industry to advance a safer, healthier, and more efficient consumer food supply chain. It represents an $800 billion industry with nearly 6 million employees and touches the lives of over 100 million households in the United States. Learn more at www.FMI.org.
Wynshop is an ambitious team of digital innovators obsessed with a solitary mission—helping grocers and other local store-based retailers grow wildly successful online businesses. Its refreshingly easy-to-use digital commerce platform enables efficient in-house picking, reduces fulfillment costs, and gives retailers the ability to control every facet of their customers’ digital shopping experience. This results in a more personalized customer journey and amplified shopper loyalty. Learn more at www.wynshop.com.
Incisiv is a next-generation industry insights firm that helps retailers and brands navigate digital disruption in their industry. Incisiv offers consumer industry executives responsible for digital transformation a trusted platform to share and learn in a non-competitive setting, and the tools necessary to improve digital maturity, impact and profitability. Learn more at www.incisiv.com.
Laurel Getz (for Wynshop)
Originally published at https://www.prnewswire.com/news-releases/grocery-leaders-agree-that-private-brand-growth-is-a-priority-in-2023-but-point-to-poor-digital-marketing-for-lackluster-performance-301751106.html
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