Own label products have experienced a 9.3% growth in sales over the past nine months, according to new data from Kantar.
Published today, for the four weeks to 22 January, figures reinforced how own-label lines are well ahead of branded alternatives which were up by just 1%.
Head of retail and consumer insight, Fraser McKevitt, urged stores to stock own label to continue enticing shoppers through their doors during the cost-of-living crisis.
“Where appropriate, retailers need to stock cheaper alternatives, so those customers that do come in have a cheaper alternative among higher-priced brands, which marries the gap between going there and somewhere else.”
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Overall take-home grocery sales rose by 5.7% during the four-week period, and by 7.6% over the 12 weeks. Grocery price inflation jumped 2.3 percentage points this month to 16.7%. As a result, households will now face an extra £788 on their annual shopping bills.
As it stands, symbol groups and independent stores have a 1.4% grocery market share, with Tesco leading the way at 27.5%, following by Sainsbury’s at 15.4% and Asda at 14.2%.
When asked how independents can continue to compete with supermarkets, McKevitt explained: “It’s about having a look at what people want and ways to add value – be that around hot food or drinks. For example, there will always be a price comparison when it comes to everyday groceries, so independents need to look at diversifying and giving people a reason to shop with them.”
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