Higher margins, greater responsibility face private-label retailers.
The numbers are compelling. Sixty-two percent of consumers believe store brands—or private-label products—are “as good” as name brands, according to a 2008 survey from The Nielsen Co. Meanwhile, 91% of consumers say they plan to continue buying store brands after the recession ends, according to a poll conducted by GfK Custom Research North America for the Private Label Manufacturers Association. And in this same study, three of every 10 shoppers said they were buying more store brands than a year ago.
Now here’s another figure: 1.5%.