Sales of private label olive oil have surged across Europe, according to data from IRI, with hypermarkets and supermarkets across the continent reporting increased figures for the condiment under their own labels.
Among the markets seeing the biggest sales increases are France, Germany, the UK, Italy, Greece, the Netherlands and Spain. According to IRI data, supermarket chains in Germany saw private label olive oil value sales rise by 7.9% over 2016, while the figure for UK retailers stands at 2.8%.
Despite challenging economic conditions and poor harvests in Spain, Italy and Greece during 2015, value sales were up in several markets, with total sales of €3bn (January-December 2016) in Western Europe.
Sebastian Hendricks, a consultant at IRI, said, that it is “interesting that olive oil, which has traditionally been dominated by recognisable brands, has seen a significant shift in recent years."
“Private label is now better in quality, which is why we have seen the increase of PL in other categories as well, but we are also seeing retailers, including the discounters, giving much more shelf space and extending the range of their oils, including organic ranges, in-store.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. Click subscribe to sign up to ESM: The European Supermarket Magazine