Private Label Products overtaking brands? Nielsen spots the trend.

Would you prefer private label chocolate, rice, yogurt, pasta or milk over a famous branded option?

Would it be just the price, or are there other reasons counting for your choice such as quality?

I have to admit that I prefer private label products over branded ones, as so many customers are already doing: a trend also spotted by Nielsen. 

Still, the price is not the only factor leading consumers-myself included- to private label purchases, so much so, that retailers will have to "innovate", "expand", "embrace" and "grow" their products according to the needs of the customers. But there are so many questions to be answered beforehand such as for instance: 

a) how much innovation can a customer demand?

b) can retailers be innovative and still offer an affordable product? 

c) will private label products, overtake the branded ones? 

At the end of the day, the rudimentary question (along the lines of Freud's remark "What does a woman want") remains the same:  what does a Customer really want?
Keep it simple and affordable, or make it "complicated" and possibly expensive? 

As long as quality and price are considered as important criteria of private label products' "Product Mix" and super markets stand close to customers' needs, then everything is possible in the following years. You never know what the customers will ask for. 

One thing is for sure: so much of everything is not the answer.

So, look around you at a supermarket, after checking the latest by Nielsen: are you surprised?

http://www.nielsen.com/us/en/newswire/2014/how-private-label-and-retailers-are-disrupting-the-trading-envirornment-in-western-europe.html

Check the Label

So what you see is what you get?
Is food labeling as accurate as expected?
Do words like "Natural" "Light" "Whole Grains" tell the whole truth about the food you are buying?

Here is a link with a list of the top 5 words that should be banned from food advertising as "misleading".
Of course the topic of labeling is a very complicated one, as it involves a lot of issues on customer rights, ethical advertisement, competition and public health. As already mentioned in previous posts, there is a non-exhaustive list of regulations on the subject, so that, with this index, you might as well, get an idea.


http://www.leanwashingindex.com/
http://www.care2.com/causes/5-misleading-words-that-should-be-banned-from-food-advertising.html

Psychology and Advertisement

Reading on the topic, I just came across this video about psychology in advertisement.

Succinct and beautiful.
Enjoy.

http://www.youtube.com/watch?v=EC7VLjIw8hY