In recent years, the ease of meeting the private label application with the market shelves for any product category has brought the sales chart of private label products to the maximum level.It is attractive to buy a product of the same quality with economic price advantage for customers while the interest of end consumers to private label products continues to increase. Alternative. In private label, the customer can try to buy the same product again as soon as he compares the benefit he has paid with the money he has paid. In other words, it is possible to obtain more loyal customers with the satisfaction of the private label product.
The market shares of private label products have been on an increasing trend in recent years. Private label products have started to appeal to a wider product area with alternative solutions to raise the bar every year. The price difference between private label and other manufacturer brands is almost 40%. Due to the sales and competitive power of private label products, the concerns or efforts of the manufacturer brands to protect their market shares are clearly visible. Because the consumer and the supplied private label brands meet with a high demand curve due to the affordable price criterion. It is a clear proof that they have started to perceive them as brands. Affordable prices and quality components direct the behavior of customers by private label products.
The most common situation encountered in Private Label products is that the market produces products based on the most preferred brand of the product category on the shelf. Benchmark products emerge with their packaging, color, odor, and lid. In order to prevent this situation or to create more original products, the purchaser of that market and the company that produces the product must have knowledge and training on this subject. Teams should be positioned with the right people and the right training.
In the following industries, with a private label product, you can differentiate your products from competitors and create value by offering new alternatives to your customers.