The UK own-brands market is currently worth an estimated 61.1bn.

The UK own-brands market was worth an estimated 61.1bn in 2003. Sales have increased since 1998 by a total of 15.1%. In addition to a general trend of a rise in UK retail sales, the increase in this market reflects the growing range of own-brand products available. In comparison with the global retail market, the UK has one of the most advanced own-brand markets and leads developments throughout Europe.

(PRWEB) September 5, 2003 -- Research and Markets have announced the addition of the "Own Brands Market Report 2003" report to their offering.

The UK own-brands market was worth an estimated 61.1bn in 2003. Sales have increased since 1998 by a total of 15.1%. In addition to a general trend of a rise in UK retail sales, the increase in this market reflects the growing range of own-brand products available. In comparison with the global retail market, the UK has one of the most advanced own-brand markets and leads developments throughout Europe.

Own-brand items are sold across a variety of markets and the own-brand industry includes retailers, major food manufacturers, producers of fast-moving consumer goods (FMCG), and smaller, independent organisations. Despite the diversity of the sector, it remains the case that the UK's major supermarket companies dominate the own-brand market. The growth of own brands is a sign of maturity among the supermarket groups, which have seen a reduction in the emphasis on copycat branding that originally characterised the market.

UK retailers have had the opportunity to diversify the product ranges that they offer consumers, and develop new revenue streams. Having successfully developed the own-brand food and grocery market, the major supermarket chains have the knowledge, investment skills and buying power to develop non-food lines. The own-brand clothing market is, at present, a particular growth area that is an underdeveloped part of UK supermarkets' product portfolio.

Retailers benefit from selling own-brand goods because they are more profitable than selling private brands and, importantly, provide retail chains with the chance to build stronger relationships with customers. In the future, a level playing field will not occur between private brands and own brands. This is because retailers have an advantage of knowing details of their competitors' promotions. They also have access to prime shelf space and are aware of competing brands' sales figures.

The UK's own-brand market is expected to continue to grow, as retailers diversify across different product ranges. However, this growth is dependent on the success with which the UK's supermarket chains move away from their core food product ranges into non-food items. The key for own-brand retailers is creating loyalty between the customer and retailer, while differentiating the company from its competitors. Own brands have moved through the stage of trying to beat brand manufacturers and are more focused on being led by their own brands rather than other products. This change in approach will continue to guide supermarkets into non-food areas such as finance, car sales and utilities.

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REPORT DATA SUMMARY:
Own Brands Market Report 2003
Category: Retail
URL: www.researchandmarkets.com/reports/35171

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