A recent annual report highlights the explosive growth of South Africa's private label market, which is expected to exceed R100 billion in sales soon. While this presents numerous opportunities, there are warnings of increasing competition that could lead to lower profit margins and oversupply. The report emphasizes the need for retailers to balance affordability with quality, adapting to evolving consumer demands for diverse product ranges, including niche categories like vegan options. A tiered private label strategy is recommended to mitigate these risks, offering both value and premium ranges to cater to a wider customer base. Despite challenges, the overall retail sector shows signs of renewed optimism.
