A recent survey by Canadean has revealed that global consumers enjoy finding bargain personal care products in private label ranges.
The survey revealed a key change in consumer attitudes towards private label products. People no longer believe that these items are less effective than branded products, with 49% of consumers agreeing that discounters and private label offerings are the same as branded products, just in different packaging.
Two thirds of consumers (74%) across the world said that price is an important factor when selecting a personal care product, while 56% said that promotional offers are also important.
Joanne Hardman, Analyst at Canadean, said: “This new generation of savvy shoppers often feels proud about finding a private label bargain in the personal care aisle. In order to challenge brands, private label needs to position products as being better or at least as good as branded alternatives.”
The survey also discovered an opportunity for cosmetic companies to partner with bloggers and personal care experts. Almost half of consumers (49%) agreed that they want to buy personal care products that reflect their attitudes and opinions in life, something private labels could achieve with bloggers. Hardman added: “Bloggers offer a first-hand opinion of new products and give consumers confidence to explore personal care offerings they may not have thought of trying before. Brands are already successful in this channel so private label needs to catch up with this.”
Growth in private label brands is not only due to a downturn in consumers’ financial wellbeing. Decades of investment in product portfolios has left many consumers unable to differentiate between branded and non-branded products.