Consumers ranging from millennials to baby boomers have changed their attitudes about private-labeled products as methods-of-purchasing habits have changed. What was once seen as generic is now viewed as having value and brand integrity.
As a result, the savviest retailers and merchants are using private-label as a tool to offer exclusive, high-quality products, that their customers can’t find anywhere else.
Jewelry Cleaners are known as part of the CPG retail category – “consumer packaged goods.” According to Nielson, growth of CPG private-label products outpaced branded products by more than three to one over the past three years. Data shows that more than half of consumers visit a particular retailer specifically to buy store brands.
What does this mean for jewelers and retailers? Your customers know and love private-label products! They are comfortable with them, loyal to them, and understand that they are exclusive. If you are thinking about adding a private-label jewelry cleaner to your retail mix, now is the time to make your move into this category.