Addressing the Changing “Brand” Landscape and the Rise of Private-Label or Store-Brand Goods
As family budgets tighten and the thrift mindset becomes more entrenched, a rising interest in store-brand or private-label items threatens market share among nationally known brands. In fact, according to The Futures Company's recently released Dollars & Consumer Sense 2009 study, 77% of American consumers purchased more generic or store-brand products this year instead of the nationally known brands they usually use, a behavior that translated into $81 billion in sales for private-label goods in 2008(1). This week's MONITOR Minute looks at the...