Patricia Mansfield-Devine reports
Over the past few years, economic conditions have continued to play a large role in the private label cosmetics market as purse strings remained tight on discretionary spending in most of Europe, including on cosmetics and toiletries.
However, in 2014, this could mean a higher market share for private label, or so market researcher Surveylab believes. The online survey company undertook a report, entitled Today’s European Shopper, on behalf of the Private Label Manufacturers Association (PLMA).
The survey looked at 14 countries and found that nearly half of those questioned said they purchased private label products “frequently”, while one in four said that in the year ahead they would buy more own brands than they do currently.
A much-cited reason was the economy: two thirds of shoppers said that recent economic conditions had forced them to make changes in how they shopped, and 80% said they expected the economy to either stay the same or get worse in the year ahead. Countries included in the survey were Belgium, the Czech Republic, Denmark, Finland, France, Germany, Hungary, Italy, the Netherlands, Norway, Poland, Spain, Sweden and Great Britain.