Well-known convenience store chains create private label products
Trend - As more brands branch out with private label products in unlikely categories, well-known convenience store chains are doing the same. Everything from alcohol to apparel exclusive to convenience store brands can now be purchased.
Insight - Releasing private label products is helping brands amidst struggling sales in their traditional categories amidst the COVID-19 pandemic. In addition, these products offer cost-accessibiity and cater to consumers who are motivated by novelty in their purchase decisions.
Insight - Releasing private label products is helping brands amidst struggling sales in their traditional categories amidst the COVID-19 pandemic. In addition, these products offer cost-accessibiity and cater to consumers who are motivated by novelty in their purchase decisions.
Workshop Question - What's an unlikely category your brand could enter or experiment with?
Trend Themes
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Private Label Products — Releasing private label products is helping brands amidst struggling sales in their traditional categories amidst the COVID-19 pandemic.
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Premium and Healthier Beverage Offerings — Convenience store brands are offering more premium and healthier beverage choices as consumers seek out healthier options with low sugar or calories.
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Convenience Products Expansion — Well-known convenience store chains are massively expanding their private label products for customers seeking cost-accessible, novel products.
Industry Implications
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Food and Beverage — Food and beverage companies could create or expand their private label offerings to stay competitive and offer cost accessibility to their consumers.
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Retail and Consumer Goods — Retail and consumer goods professionals should consider offering premium, healthier, and more diverse line of products through their own private label to compete with convenience chains.
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Fashion and Apparel — The fashion and apparel industry could consider partnering with convenience stores or creating their own private label for more exclusive, cost-accessible fashion options.
