Aldi's private label items dominate Best New Product Awards
- BrandSpark International has awarded discount grocer Aldi several awards in its 2017 Best New Product Awards list, according to the Shelby Report.
- BNPA award recipients are chosen solely by the votes and opinions of more than 10,000 American consumers.
- An American Shopper Study that was released in conjunction with the awards found that 74% of shoppers enjoy trying new products, while 63% of consumers said they would pay a little more for a new product that appears to be better than what was once available.
With eight out of 31 BNPA categories going to Aldi private label products, it's clear the German discount retailer has developed a winning strategy for its store branded items. Winning items were in a variety of product types, including Aldi's Specially Selected Brioche Buns, Nature’s Nectar Coconut Water, SimplyNature Organic Cage Free Brown Eggs and SimplyNature White Cheddar Puffs.
Not only are these awards a signal of Aldi's success in the discount grocery space, but also a reminder of changing consumer sentiments toward private label products. A few years ago, store branded products were viewed as "generic" knock-offs, and many shoppers felt that they lacked the same nutrition and reliability as national brands. Improved design, flavor profiles and pricing, however, have changed this perception.
A 2014 global survey by Nielsen revealed that 71% of consumers have seen a vast improvement in private label brands over the years and many analysts believe this number has only risen in the ensuing years. It’s why retailers like Sprouts and Albertsons are investing so heavily in private label items. In fact, the Private Label Manufacturers Association’s 2016 Private Label Yearbook revealed that store brand sales totaled $118.4 billion last year, a record number.
Aldi’s private label strategy is a big part of the retailer’s success. While the company offers a large catalog of non-food private-label offerings, its emphasis is largely on edible items. According to a story in Forbes from 2015, Aldi “simulates the color scheme and front panel symbolism of national brand products” in a detailed way that connects with consumers the same way that a name-brand, iconic product would.
- The Shelby Report Aldi Dominates Best New Product Awards List
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