Seven in 10 shoppers (71%) say they’re spending less on food, beverage and household goods by choosing store brands, but don’t feel like they’re sacrificing much. In fact, only 31% of brands are considered a “must have” — one that shoppers would buy whether on sale or not, according to a new study by Deloitte. Nearly 9 in 10 (88%) respondents say they have found several store brands that are just as good as national brands.
Tag: store brands
Consumer products marketers have spent plenty of time and money distinguishing their brands. But the Great Recession changed the shopping habits of consumers who were driven to purchase only on price. While many marketers expected consumers to return to their favorite brands as the economy improved, new research shows that the purchase process may be more complicated.
While the majority of consumers still perceive store brands to be the same as or better than national brands, a one year trend analysis indicates that their positive perceptions toward store brands may be starting to decline slightly, according to Ipsos, most notably in the areas of being environmentally-friendly, high-quality, unique and innovative. National brands should continue to focus on the benefits where they are most differentiated from store brands to help drive trust and quality perceptions.