The Kiplinger Resource Center takes a nice look at the state of Private Brand and its growth in the lagging economy. The article includes quotes from Neil Stern, a senior partner at McMillan Doolittle; Krista Faron, senior new product analyst at Mintel; Jim Hertel, a managing partner at Willard Bishop as well as Milt Sender, the chairman of Daymon Worldwide.
Frugal Shoppers Are Here to Stay
When the recession ends, private-label sales growth will continue…but at a slower pace.
The strong sales growth in cheaper private-label goods is likely to last. Growth in sales of store brand products will continue to outpace gains in national brands even after the recession, particularly at drugstores, mass merchandisers, dollar stores and warehouse clubs. And stores will expand their private-label offerings across the board, from premium store-exclusive products down to the cheapest national brand copies of well-known brands.
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