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Saturday, October 31, 2020

Is Covid-19 a boon for Private Labels and White Labels? Tahir Taj, President-Europe & Asia Pacific, Daymon shares his views

How has Covid-19 changed overall shopper sentiment towards leading brands in lieu of disrupted supply chain?
Consumers are more and more very conscious of their decisions. And Private Brand is constantly studying consumers trends. COVID 19 enabled the acceleration of specific trends that were already there. The localism showed to be very effective under a disrupted supply chain during the confinement time. This trend with a higher search of conscious buying made a playground where Private Brand is playing an important role.

Has the Private Label or White Label or Local Brands been able to create a dent in market share of category leaders? If Yes was it price or was it availability led?
YES!! Private Brand momentum is here! But not because of COVID 19. COVID 19 is an accelerator. As we show in our Private Brand Intelligence report, Private Brand was well positioned to enter a successful 2020 before COVID 19. Consumers trust in Private Brand is higher as ever and consumers say that Private Brand delivers their needs. With COVID 19 there was an acceleration of that because consumers can be more conscious buying with Private Brands and also due to availability the trust accelerated.

Which are the major categories that may see a considerable consumer stickiness in post Covid era?
The pandemic has definitely disrupted the way consumers shop and what they buy. Without the benefit from hindsight, what we can anticipate is that consumers prefer and buying attitudes after COVID, will likely be influenced by the new eating at home and cocooning habits adopted over the past months.
Therefore, categories that cater to the growing home cooking trend and “do-it-yourself” DIY mindset but also give some sense of safety and comfort, such as frozen foods, ambient ready meals, cooking ingredients and homecare will continue to gain traction among consumers.

Is contract manufacturing in India matured enough to accept challenges posed by ever changing consumer expectations with respect to world class product innovations?
The manufacturing community is for sure ready to endure in this challenge. As the question says what is important is the understanding of the consumer and the capability to do it fast. By doing this, by having the capacity to understand the consumers the manufacture community can partner with retailers to develop successful private brand programs.

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How & where all do you think can help SME, MSMEs, institutions & retailers in India in current & post Covid Era? can help a lot to disseminate what actually Private Brand can do to all important stakeholders. Suppliers, Retailers and especially to Consumers. By helping to disseminate this, can connect these partners to have discussions about the evolution of Private Brand and the actual benefits that Privat Brand brings to local economies. that have an important role to accelerate this and to connect partners.

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