Premium and innovative products will be driving the growth of private label in the years ahead. That was the message of PLMA’s 2017 “World of Private Label” international trade show, beginning at the opening day seminars and continuing on the trade show floor.
The opening seminar began with the announcement of the PLMA’s international Salute to Excellence Awards, which recognize innovative products. More than 100 award-winning products from 39 retailers in 19 countries were selected by panels of judges consisting of industry experts, former retailers, academics and journalists. The award-winning products attracted many visitors at a special display on the trade show floor.
The message was reinforced by the second seminar presentation, by Alexander Kottke, senior research analyst for Euromonitor International. He said the future success of private label depends on retailers offering more sophisticated products that offer high quality and meet the changing needs of consumers.
Consumers were the focus of the other seminar speaker, Richard Cope, senior trends consultant for Mintel. He believes it is important to realise that two demographic groups, millennials and seniors, have much in common. Both groups are looking for customized products and services and depend on technology to connect to others.
More than 14,000 buyers and visitors from more than 110 countries attended this year’s “world of private label”. On the trade show floor, attendees had the opportunity to visit more than 2,400 exhibiting companies.