In the fight for market share, buyer numbers remain the key.
Continued investment in new products is a major underlying factor in buyer growth and the big brands have a significant role to play.
84% of brands still grow share by increasing the number of buyers
Recently more brands have been growing share by only increasing frequency. This is due to the pandemic – less shopping around, more often in the same store, fewer opportunities to switch and more opportunities to buy the same brand. Buyer numbers remain the key.
Whatever the route to share growth, new products are critical
Our global Private Label study and many subsequent insights on growth all show that brand investment is key to counter Private Label. Over the 5 years to 2021, this remained the case – more share winners launched new products than losers and they got more from their launches.
Big brands are key to countering the Private Label threat
With greater access to retailers and shoppers, big brands are extremely important to keep PL at bay – their market share returns for both innovations and renovations are up to three times higher than the average brand share winner.