What Makes Private Labels Click?
While India’s retail industry continues to scale new heights each year, the private-label area in FMCG has shown incredible consistency and potential. In fact, Nielsen estimates that India’s private-label market will grow fivefold to reach the USD half billion mark by 2015. With a projection like that, India’s private label sector is better poised than its counterparts in other emerging economies. It also highlights shifting attitudes and perceptions with respect to brand loyalty.
To identify what drives the private-label market, it’s crucial to understand the characteristics of the modern shopper. With growing levels of disposable income, shoppers are far more open to experimentation than ever before. With the rise of modern trade, the perceptions about grocery shopping have changed. Rather than viewing shopping as a chore, more and more Indians are finding it to be a more pleasurable experience.