NEW YORK – What attracts consumers to store brands? PLMA’s Lunch & Learn live online program on January 20 will focus on a new IRI study about the growing consumer demand for private label.
Historically, U.S. consumers turn to store brand products in even greater numbers during challenging economic times.
It’s happening again. On the heels of several rounds of federal stimulus dollars and the widespread reallocation of household budgets due to working from home, consumers have been increasing their at-home food consumption.
This includes the accelerating purchase of store brand premium items and greater trial and experimentation with store brand products that feature new and unique flavors, ingredients and benefits.
Mary Ellen Lynch, Principal, IRI Center of Store Solutions Group, will explore this emerging store brand landscape and identify opportunities it creates for retailers to build demand for their brands.
Lynch will analyze some of the factors that are driving private brand expansion across all retail channels. She will profile consumers who display high, medium, or low loyalty to store brands and those with similar levels of loyalty to national brands.
“On Thursday, January 20, for one hour beginning at 12:30 PM EST, don’t just break for lunch, come learn with us,” says Peggy Davies, PLMA president. “Our Lunch & Learn program on IRI’s new thought leadership study will contribute to increasing strategic collaboration that can open doors to new relationships and build lasting trust among store brand manufacturers and retailers.” A Q&A session will also be conducted.
Registration for Lunch & Learn, which is part of PLMA’s professional development program, is free for members and qualified retailers.
Lynch brings a strategic and entrepreneurial spirit to wrapping contextual understanding of retail and the American shopper around big data to create industry intelligence that supports market execution.
She’s an experienced strategic consultant to big brands, innovative brands, retail and industry publications and other organizations, and is a recognized success at expanding strategic relationships for mutual growth through commercialization. Principal, IRI Center of Store Solutions Group since 2016, Lynch previously worked at Label Insight Inc., SPINS, Nielsen, Publications International, Catalina Marketing and Synovate, among others.
Called “Consumer Demand for Private Brands,” the IRI study states that the most successful store brand programs function similar to CPG companies, including retailer commitment to supporting their brands beyond production with the four P’s: packaging, promotion, placement and pricing.
“Store brands influence where many consumers shop and should reflect the store’s mission and strengths and be included in marketing and promotions. Private Brand Loyalists indicate that trust in the brand is a key purchase driver. Retailers should leverage trust in their most popular products to encourage trial of other store brand options,” suggests the study.
This is the first in a series of PLMA Lunch & Learn online events planned for 2022. For Lunch & Learn registration information, please contact education@plma.com.
About PLMA:
The Private Label Manufacturers Association is a non-profit organization founded in 1979 to promote the store brands industry. It is the only trade group of its kind, representing 3,500 member companies in more than 75 countries. In addition to annual, industry-defining trade shows in Chicago and Amsterdam, PLMA offers its members annual Leadership and Washington conferences, executive education and professional development programs, original consumer and market research, as well as digital media platforms, including exclusive news coverage from PLMA Live and the e-Scanner industry newsletter. Follow PLMA on Twitter and LinkedIn.
