MediaPost reports on a new Deloitte study saying that "private-label brands, which gained so much ground during the recession, are still drawing new fans: It reports that 88% of consumers now swear by store brands, and say they have found many private-label products just as good (or even better) than their former favorites."
Indeed, the study says that more than seven out of 10 respondents "believe they are spending less on their grocery bills, without sacrificing much. And only 31% say brands can be a 'must have,' something they’d buy whether it was on sale or not." The segment sin which brands are cited as being most important: beer, soft drinks, pet food and coffee.
Pat Conroy, vice chairman, Deloitte LLP and U.S. Consumer Products leader, says that many brands are suffering from "a crisis of the similar," which means that they don't give consumers any compelling reasons to buy them.
Indeed, the study says that more than seven out of 10 respondents "believe they are spending less on their grocery bills, without sacrificing much. And only 31% say brands can be a 'must have,' something they’d buy whether it was on sale or not." The segment sin which brands are cited as being most important: beer, soft drinks, pet food and coffee.
Pat Conroy, vice chairman, Deloitte LLP and U.S. Consumer Products leader, says that many brands are suffering from "a crisis of the similar," which means that they don't give consumers any compelling reasons to buy them.
- KC's View:
-
"Crisis of the similar." I love that. I think I'm going to steal it. Because I think it sums up the problems facing not just a lot of brands, but a lot of retailers trying to define for themselves a differential advantage in the marketplace.
