British retail olive oil market shows signs of maturity
The own-label olive oil market share shows signs of decline in the UK.
According to a report by The Grocer magazine, June 2012 was the month that the own-label olive oil share by value was at an all time low.
The figure according to The Grocer was 38% compared with 47.5% share in 2011 and 51% in 2010.
Major brands in the UK have increased their promotional activities and price offers in recent years. So they are now starting to taste the fruits of their efforts.
However the ELEONES team believes that this decrease in market share is also a first sign of consumer education and market maturity.
The British consumer after being exposed for quite a few years now to TV shows by celebrity chefs, has developed a fairly good knowledge about different kinds of olive oil in terms of taste and quality and their use in cooking.
As a matter of fact, far better than consumers in developed olive oil markets like Greece for example where one olive oil is used for all purposes by households.
So the drop in share for the own-label olive oil for the ELEONES team seems as a normal consequence of the market maturity as consumers realize that own-label olive oil is on the cheap side for both quality and taste most of the times.