Private label industry in Russia is young and slightly growing market with huge potential. Development industry in Russia is a long-term trend.
Now it’s the turning point when private labels development in Russia generates growth and extra profit for retailers.
Now 81% of Russian buyers purchase the goods under PL of retail chains. Private label has rooted solidly in the mode of living and buying for general Russian consumer and will not leave the shopping cart regardless the decrease or increase of the buyers’ income.
During pandemics the range of PL products became much wider. Buyers prefer much often in the following product categories: alcohol, tea and cleaning products.
Russian retailers actively develop private labels. Development of PL in Russia started with the “First price” goods, then arrived brands of “available quality” and now various PL goods are represented in all price segments.
Buyers name the following criteria increasing the PL sales: “high quality for reasonable money”, “private labels inspire confidence”, “products’ taste is same as the genuine ones”, “private labels quality is same as the original manufacturers’ brands”.