Daymon, a global expert in developing private brands, is partnering with leading distributors in the UK to disrupt the English private brand market.
More and more, retailers are treating private brands like national brands instead of a follower product or a lower-cost version of a mainstream product.
Private brands will continue to grow globally, not only in countries with high potential due to lower levels of market share penetration, but also in markets where private brands are already well-developed, such as the UK, Daymon has forecast.
The UK is among the top 10 markets for private brands in terms of both market share and sales volume values.
Consumers also contribute to the growth of private brands. Around 86% of UK consumers buy private brands on every or almost every shopping trip, and their trust in the category is at 87%, research by Daymon has revealed.
Shoppers prefer brands and products that are unique and tailored to meet diverse needs, and private brands have the means to do so. Differentiating from competition, growth in customer loyalty and an increase in profitability are the top reasons for retailers to offer private brand products.
Innovation becomes the key pillar to successfully differentiate private brands, setting the stage for distributors in the UK to collaborate with Daymon.
With proprietary analyses, consumer surveys, market research and global intelligence, Daymon will support its partners in developing innovative concepts that disrupt UK’s leading private brands while helping retailers to boost their results and stay ahead of competitors.
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