Loyalty Shifts from National to Private Brands
A majority of consumers—85 percent—say they trust private brands at least as much as national brands, and 74 percent believe private brands are now a better value for the money, according to Daymon’s 2018 Private Brand Intelligence Report.
The increase in private brand sales has everything to do with how certain retailers have managed to build trust with shoppers. A major turning point for private brands has been the proliferation of online shopping. Consumers now have the ability to easily compare products and prices, and private brands offer security to shoppers who want a quality product without paying a premium just to have a brand’s name stamped on the packaging.