Innovation provides retailers with real momentum to drive volume and value in personal care despite challenging economic context, finds a review of key western cosmetic markets by IRI. 'There are still encouraging growth opportunities' - such as in pure organic cosmetics - despite the post-financial crisis slowdown, suggests the report.
"There is really probably no limit to how far private label can push itself. Lots of innovation and renovation is coming through from the European private label market," David Jago, Director of Innovation & Insight at Mintel told an industry audience during Wabel’s 2014 Frozen Summit in Paris.
Food price increases across Europe drove the sales value for FMCG at the end of 2013, with value creeping up on average by 0.6% in 2013 versus the previous year, finds IRI’s recent ‘Is economic uncertainty affecting FMCG sales? Quarter 4 2013’ Topline report.
Although the overall picture is quite bleak for personal care in Europe, some categories are still performing well. For cosmetics, value sales rose by €38.6m from the last quarter of 2012 to the equivalent period in 2013, ending 29 December.
A firm believer in innovation to bring added-value to the market and generating growth, Paul Doughty, managing director of Yorkshire-based firm The Ice Co has driven the roll-out of several new products to gain market share in the UK’s ice market and beyond. Indeed, in March this year The Ice Co won a Wabel Frozen 2014 innovation award for its Ice & Slice product
Private label is ‘winning share in most countries’ and together with growth within discounters is helping to support a robust performance for ambient categories, finds a recent report from IRI.
How the upturn will affect different categories in the the frozen food markets across Germany, France and the UK is hard to predict but the changing tide of the "UK economy drives the UK frozen food market", said Brian Young, director of the British Frozen Food Federation, when he spoke at the 2014 Wabel Frozen Summit.
Sabine Eichner, director of the German Frozen Institute, gave a full picture of Germany's frozen food market at Wabel's 2014 Frozen Summit. For those who couldn't join us at the event, we share her thoughts with you in the article below.
Set against a continuing tough economic climate in Europe, shoppers are thinking twice about spending their money on personal care products, with the category under-performing compared to FMCG. But innovation offers hope and - as a major lever for growth - could change fortunes for dynamic companies.