Saturday, November 3, 2012

Are Consumer Brands Losing Their Mojo to Store Brands?

Makers of name brand products beware: Store brands continue to be accepted and embraced by consumers.

Last July, BrandChannel reported on a study by Accenture indicating that 64 percent of shoppers' grocery carts were at least half full of store brand products -- and 39 percent said they had bought more store brands in recent years.

Now a new study by marketing agency The Integer Group, in association with the market research firm M/A/R/C Research, shows that consumers increasingly believe store brands can match brand names in quality. 

In fact, in the 2012 study, 64 percent of shoppers said brand names are not better quality products, versus 57 percent in 2010. Only 51 percent of shoppers say they continue to buy brand name products over store-brand alternatives because they trust the brand name, according to the study. Only 20 percent of shoppers agree that they go right for their brand name choice and get what they want.

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