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Consumer Attitude Towards Fmcgs

In: Business and Management

Submitted By 324017731
Words 4664
Pages 19
* Nilesh Neelmani

INTRODUCTION
The Indian retail sceneis all poised for a tremendous growth and is estimated to reach $54 billion by the year 20 12 with an annual growth rate of about 9 percent. The growth in the retail sectorhas made the consumersto experiencePrivate Labels. With the approval of 51 % direct investment by Government of India in single brand retail showrooms, foreign retail majors like Tesco,Walmart and Carrefour are all set in to enterthe Indian market. All thesecompanies are known for their Private label brands. Tasty treat ofF ood Bazaar has now become popular and comes in a wide range of product categories. Food Bazaar's in house tea-brand -which is 20-30% cheaperthan the major National Brands has cornered 40% market share. In salt, Food bazaarhas market share of 40-50% .Kishore Biyani of Future Group has evensaid that -Private Labels can be usedto hedgethe inflation. According to the Private Label Manufacturers' Association (PLMA), "Private label products encompass all merchandisesold under a retailer's brand. That brand can be the retailer's own name or a name created exclusivelyby that retaile1: In some cases,a retailer maybelong to a wholesale group that owns the brands that are available only to the members of the group". According to (Baltas,1997), a Private Label is, "A consumer product produced by, or on behalf of,retailers and sold under theretailers' own name or trademarked through their own outlets " . Private labels or store brands are generally brands owned, controlled, and sold exclusively by retailers (Sethuraman and Cole, 1999). Store brand grocery items are products owned and branded by organizations, whose primary economic commitment is distribution rather than production (Schutte, 1969). There are basically two kinds of Private Labels namely -Premium private labels and Value innovative private labels. Premium private labels

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