ECONOMY

Private-label products see turnover, market share grow

Turnover of private-label products on supermarket shelves grew by 3 percent last year, compared with 2011, continuing the rising course that started in 2009. The market share of such products is estimated by the Stochasis research company to have reached 17 percent, which is considerably higher than before the crisis, but well below the levels seen in Northern European countries.

From 13.9 percent in 2009, the share of products bearing the supermarkets’ brand grew to 16.1 percent in 2011 and to just over 17 percent last year. The turnover of private-label products in 2011 amounted to 1.9 billion euros.

“The existing economic conditions are reshaping consumer behavior as shoppers are increasingly turning to products that combine an attractive price with good quality, thereby creating a new group of consumers who, depending on the quality of the private-label products, can become faithful customers,” said Christina Gioka, head of research at Stochasis.