Advantage Solutions releases 2023 Private Brand Intelligence Report
13 Novembre 2023 - 5:00PM
Advantage Solutions Inc. (NASDAQ: ADV), a leading provider of sales
and marketing services to consumer goods manufacturers and
retailers, today announced the release of its 2023 Private
Brand Intelligence Report, a compilation of proprietary research,
market data and subject matter expertise.
The report, conducted by Daymon, the global experts in private
brand development, indicates that 92% of consumers trust private
brands as much as or more than national brands and 83% of consumers
view private brands as a better value for their money than national
brands.
“Increasing levels of trust, quality and value are prompting
consumers to flock to private brands in record fashion,” said Jim
Griffin, president of Daymon North America, a division of Advantage
Solutions. “It’s a huge opportunity for suppliers and retailers to
invest in innovation and leverage the shifting consumer perceptions
of and desire for private brands.”
The rising consumer affinity for private brands is prompting the
development of three innovation pillars that are shaping product
and retail innovation across both food and non-food categories.
- Innovation Pillar 1: Purchasing with Purpose:
Consumers are leading the charge making intentional purchasing
decisions, seeking items with positive health, environmental,
social, and community impact. According to the report, 83% of
consumers are interested in a healthier lifestyle, leading 70% of
consumers to exert more effort into selecting nutrient-dense and
healthier foods than they did a year ago. Additionally, nearly
one-third of shoppers say they are looking for retailers to help
guide them to make healthier decisions and are interested in
retailers providing more free samples to help them try new items.
Beyond plant-forward options, consumer interest in total
sustainability also is driving purposeful purchasing, with 83% of
consumers interested in seeing more non-food, sustainable
offerings.
- Pillar 2: Fit for Functionality: Consumers are
expecting brands and products to do more for them than ever
before—with multi-functional products and services that aim to
simplify their diverse needs and provide better product solutions
for health concerns. Ninety-four (94) percent of consumers view
private brands as just as good or better than national brands in
offering products that fit their lifestyles. On top of that, 1 in 4
shoppers, excluding Boomers, are interested in dietary-specific
private brands such as gluten-free, keto, and plant-based; and 61%
of shoppers are looking for private brands to provide more
affordable, convenient to use or consume products, while 35% of
consumers are asking for products with functional ingredients.
- Pillar 3: Uniquely for Me: Now more than ever,
shoppers are looking for brands to deliver immersive and
share-worthy product experiences that innovate around uniqueness
and personalization, dynamic pairings, and sensory levers that
elevate flavor, scent, novelty, and aesthetic to drive simple joys
and engagements. According to the report, 78% of consumers stated
that they seek out new food and beverage flavors and trends, with
30% of shoppers expressing that a bold and unique flavor makes them
more likely to try a new product. More than three out of four
shoppers have a positive perception of private brands that launch
new flavors and limited-time offerings, with these respondents
saying new flavors are exciting, contribute to their enjoyment of
the in-store experience, and even keep them coming
back.
To learn more about the 2023 Private Brand Intelligence Report,
download the report at Daymon.com.
About Advantage SolutionsAdvantage Solutions
(NASDAQ: ADV) is a leading provider of outsourced sales and
marketing solutions that is uniquely positioned at the intersection
of brands and retailers. Our data- and technology-driven services —
which include headquarter sales, retail merchandising, in-store and
online sampling, digital commerce, omnichannel marketing, retail
media and others — help brands and retailers of all sizes get
products into the hands of consumers, wherever they shop. As a
trusted partner and problem solver, we help our clients sell more
while spending less. Headquartered in Irvine, Calif., Advantage has
offices throughout North America and strategic investments in
select markets throughout Africa, Asia, Australia and Europe
through which the company serves the global needs of multinational,
regional and local manufacturers. For more information, please
visit advantagesolutions.net.
Peter Frostpress@advantagesolutions.net
Advantage Solutions (NASDAQ:ADV)
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