During the economic downturn many consumers turned to private label goods (the store brands vs. brand-names.) Now that the economy is improving – at least a bit – it’s interesting to see that shoppers continue to buy private label goods.
Nielsen performed a global study of consumers and found that an average of 60% are stocking their shelves with private label goods.
As well, fully 88% of consumers expect to continue purchasing private label goods even as the recession is past us. That’s the staying power of store brand products. And price isn’t the only factor, as the quality of relative importance and focus on store brands has increased significantly.
Nevertheless, private label goods represent a fraction of the overall market share compared to premium brands.
What’s also interesting about the study is the universality of private label goods. From Latin America to the Middle East and Africa there’s not a significant variance in purchasing habits. This demonstrates a truly global trend.