Private labels: the new brands?
Retail trade media is abuzz over the hypothesis that consumers will shift their loyalties permanently to private labels after the recession.
Private labels have been around since the late 1800s, but consumer attitudes toward them are changing, perhaps even faster due to the downturn.
More than 30% of consumers polled are now “buying more store brand products” compared to a year ago, according to research conducted by the Private Label Manufacturers Association.
Is there really a sea change? Here are some perceptions and realities to consider: