Canadian outlook: more private brand power
Store Brands' sister publication to the north, Canadian Grocer, detailed trends for the region in 2020 and the lead item is “the continuing power of private label.”
Unlike the U.S., private label is growing largely because of rising prices in Canada, per the article. Citing Nielsen statistics, 70% of Canadian consumers are looking to save money on fast-moving CPG purchases, with nearly half looking to buy more private label products as the solution.
The article also quoted Nielsen figures that said private label is growing at a rate of 3% vs. national brands at 1%, and the private label total share of market has now exceeded 18%.
Other trends in the article include a continuation of the CBD phenomenon. Retailers with a license to sell CBD-based products will continue to do so and are even having a hard time keeping it in stock, according to the article. In total, it’s estimated that the CBD-products market will hit $1 billion in Canada over the next five years.
More sustainable and green products, mood-enhancing foods, and zero-proof, alcohol-free spirits are trends expected to grow in 2020.
Read the full article here.