Kantar Worldpanel: Private Label Growth Leads To FMCG Slowdown
The growth of private label in Spain has led to a decrease in the level of new product development in the FMCG sector, which has seen a 25 per cent decrease in NPD since 2010, according to Kantar Worldpanel.
Kantar Worldpanel's 'Radar 2016' report found that one out of every ten new product launches is now a private label product, which is hampering product innovation at major FMCG firms.
The study found that Carrefour was the retailer that launched the most new private innovations in 2015, followed by Alcampo, Eroski, Dia, Consum and Mercadona.
Commenting, Kantar Worldpanel said that the Spanish consumer is now "more optimistic" about the current state of the market, which should create "a suitable environment for more innovation".
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here