Kerry has applied its research in private label to generate its Online Private Label Simulator, a tool that helps retailers advance creative product ideas and development innovations in the area of retail-branded foods and beverages.
The online simulator takes the most important private-label product attributes and then explains and applies these within the lens of each of the two key consumer types in private-label purchases. Both “practical traditionalists” and “adventure seekers” have unique and important attributes and desires that need to be taken fully into account when creating new retail food and beverage products. To this end, the simulator provides insights for the product developer, then identifies targeted Kerry solutions and strategies.
The product attributes of most importance to consumers are flavor and taste, nutritional facts, front-of-pack claims, sustainability messages, functional benefits, allergen information, certifications and others. Understanding how these attributes work together is invaluable in guiding successful development of a new private-label venture. However, each of these attributes also applies differently depending on which consumer group—practical traditionalist or adventure seeker—is being targeted. Typically, a winning product carefully delivers what consumers are looking for, and what they need, in order to foster a switch from a favored national brand to a new, innovative alternative.
Soumya Nair, director of marketing insights for Kerry, said, “Our extensive research uncovered the two main private-label consumer types and the ten leading product attributes that have the most direct impact on consumer acceptance and enjoyment of a new private-label product. The synergy of these variables provides valuable insights into the emergence of successful new brand opportunities at the retail level and illustrates how grocery and other retail stores can develop winning products that appeal to today’s consumers.”
Nair added, “Our Kerry Online Private Label Simulator is an online tutorial that informs product developers about the most important product attributes and factors involved in this growth area of the grocery business. It also outlines Kerry ingredient solutions that optimize results in each of the 10 attribute areas. Further, Kerry’s application experts are a significant asset to any company working to develop winning private-label products for their business. Given the striking COVID-driven shifts in consumer behavior, there is simply no better time to develop a retail brand or expand a retail product’s range.”