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Store brands are products only available in specific chain stores, often sold at a discounted price. They are generally of similar quality to name brand products, with some food products being slightly lower quality. Store brands allow stores to sell products for a better value than branded items, as they don’t require special marketing campaigns. Consumers have different opinions about store brands, with some loyal to brand names and others willing to try cheaper alternatives.
Certain product brands that are only available in a specific store, usually a chain store, are called store brands. Store branded products are often available at a discounted price and are popular with those trying to keep their spending to a minimum. In some stores, they can account for 40-50% of total sales and can be 15-50% cheaper than national brand products.
Store brands are generally of similar quality to name brand products, although some food products may be slightly lower quality. Paper and personal products often perform as well, if not better, than branded items. The packaging of store branded items is usually very similar to the name of the branded merchandise, with the same colors often used for both products. Stores often place the brands on the shelves next to the comparable product, encouraging shoppers to quickly and easily compare the prices and ingredients of the two items.
Manufacturers of branded products are often the manufacturers of similar store branded products. The ingredients can even be very similar. This does not necessarily mean that the recipes used for the two products are the same. In other cases, the products may be manufactured individually by a factory belonging to the chain of stores. By comparing the ingredient lists of national and store brand products, consumers can decide how similar the two products are and whether the price difference is worth the potential difference in quality.
Store brands allow stores to sell products for a better value than many of the branded items. There are several reasons for this, but the main one is that store brand products don’t need the publicity of national brands. Stores do not create special marketing campaigns for these products. They are often included in brochures and promotions, but very little extra money is spent on advertisements. This saves a lot for both the company and the consumers.
Consumers have very different opinions about store brands. Some are very loyal to certain brand name products and refuse to try cheaper alternatives. For others, the money saved is worth more than any reduced quality. Many people, however, fall somewhere in between. There are some products they think are worth boasting brand-name quality, like cereal or paper towels, but they’re more than willing to go with the cheaper alternatives for other items, like condiments, desserts, and dairy. The quality of many store-brand products has greatly improved over the past decade, making it easier for consumers to get the quality they expect at a more reasonable price.
Asset Smart.
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