The popularity of private labels in Poland is growing more and more. A particular increase can be seen now during the pandemic period. When shopping, we often do not realize that we buy so-called products. own brands. What exactly is a private label and what distinguishes it?
Private label is a brand under which services and products are sold, which are made at the request of specific sales or commercial networks. The creation of these services and products is commissioned to various, any producers, but they are distributed and performed only by clients and remain under their strict control. It is worth adding that having your own brands / private label makes enterprises much more competitive on various markets. The essence of private label is to provide goods and services to potential consumers at much lower prices. This is because the prices and costs imposed by producers and distributors are ignored. In the past, the term was mainly based on the pursuit of low price for services and products. Now, attention is paid not only to prices and costs, but also to the highest possible quality of services and products. Private labels can be found in virtually every industry and sector. The most popular, however, are in the area of drugstores, pharmacies and groceries.
Due to the COVID-19 coronavirus epidemic, the interest in the demand for private labels has not decreased, but has actually gained and is still gaining more and more customers. This is due, inter alia, to the fact that access to branded goods was difficult. These events allowed us to get to know our own brands better and see their quality. Many consumers declare that they will choose to buy a private label. The interest in this subject has also increased as well as the openness of young consumers due to the fact that they follow new products and trends and the fact that private labels pay particular attention to the individual needs of even the most demanding customers. According to the Bain & Company report, the average European private label market share in Europe is over 30%, and only among Poles it is about 20%.
Source: www.wirtualnemedia.pl; www.rp.pl; www.pexel.com
