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January 29, 2010: 05:29 AM EST
According to a recent Boston Globe article, more consumers are now turning to private label products to to realize savings, ignoring more familiar brands in the process. Nielsen estimates that since 2007, sales of generic products are up 8 percent, while popular brands have declined 4 percent. A survey of 50,000 grocery shoppers by BrandSpark and Better Homes and Gardens suggests that 40 percent of American shoppers now purchase store brands, but 63 percent intend to return to familiar brands as the economy improves. Retail analysts fear the switch from brands could be more enduring, foretelling trouble for high-end national brands. Meanwhile, retailers sense an opportunity and are targeting cost-sensitive shoppers. Over the past two years, Stop & Shop, for instance, which has added over 1,000 items to its stable of 4,000 private label products, claims shoppers can save 25% using its own-store products.
Jenn Abelson, "Seeking savings, some ditch brand loyalty", Boston, January 29, 2010, © NY Times Co.
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