How Private-Label Goods Are Taking Over Retail

The private-label movement took another leap forward last week, with grocery store chain Kroger (NYSE: KR) unveiling a house-brand vegan meat alternative and Target (NYSE: TGT) introducing its own new line of athletic apparel. In addition, although no new products were announced, some of the wine industry's notable vintners reiterated at last week's Private Label Trade Show that retailers' wine brands themselves have never been better positioned for growth.

The news is only a reflection of how consumer demand has shifted ... and continues to shift. Gone are the days when "store brands" and "generic" were largely interchangeable terms, with both mostly unloved. Private-label brands are increasingly competitive with national, third-party brands of consumer goods. Stores that are piecing together a smart private-label strategy and product portfolio now are positioning themselves to dominate the increasingly competitive retail landscape later, and the two aforementioned companies are at the top of their game on this front.

Image source: Getty Images.

Source Fool.com