Private Brands Ease Pressure for Multi-generation Households

\"PLMAWith more than 57 million Americans now living in three-generation households, private brands offer a new way to take the edge off financial pressures. A new price comparison study by trade association PLMA (Private Label Manufacturers Association) demonstrates the savings.

PLMA drew up a shopping list of 50 products for a three-generation family. The result was store brands provided savings over 40%. Senior health care products in particular saved up to 50% or more when compared to national brand products in each category surveyed.

The survey revealed when shopping for 28 food products and 22 non-food products shoppers who purchased the national brands rang up a bill that came to $265.40, while buying only store brands would cost them $158.79 – an impressive 40.2% savings and $106.61 in total savings. Overall, 25 of the food products surveyed had price differentials of 20% or more while 16 of the 22 non-food products saved consumers over 30%. Only 5 products in the entire survey were less than 20% the price of the national brand equivalent.

The highest price differential was 77% for the store brand version of Colace, an important product for many seniors, while products needed for the entire family were also found among the top 10 in savings, including detergent (66%), dental floss (65%) and whole wheat bread (51%).

Senior health care products and OTC products overall provided some of the biggest savings. 81 mg aspirin (53% less), naproxen (48%) and senior vitamins (29%) stood out while regular aspirin (53%) and acetaminophen (36%) also showed large savings. Basic food products for the whole family – perhaps the biggest need for the multi-generational household – showed big savings. Cereal and orange juice (39% less), rice (37%) and ice cream (36%) were the main savers for the family. Canned tuna fish (34%), instant oatmeal (32%) as well as coffee (25%) were popular products with excellent savings from store brands.

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Christopher Durham is the president of My Private Brand and the co-founder of The Vertex Awards. He is a strategist, author, consultant and retailer who built brands at Delhaize-owned Food Lion, and lead strategy and brand development for Lowe’s Home Improvement. He has consulted with retailers around the world on their private brand portfolios including: Family Dollar, Petco, Staples, Office Depot, Best Buy, Metro (Canada), TLW (Taiwan) and Hola (Taiwan). Durham has published five definitive books on private brands, including his first book, Fifty2: The My Private Brand Project. In 2017, he will debut his newest book, Vanguard: Vintage Originals, a visual tour of innovation and disruption in private brand going back to the mid-1800’s. Dynamic in his presentation while down to earth and frank in his opinions, he has presented at numerous conferences, including FUSE, The Dieline Conference, Packaging that Sells, Omnishopper and PLMA’a annual trade show in Chicago. Durham lives in Charlotte, NC with his wife, Laraine, and two daughters, Olivia and Sarah.