Survey shows that consumers see value in store brands

More than 75 percent of consumers say that private brands offer quality for less money, according to a survey by Trace One, a Boston-based software developer. Conducted with 2,000 consumers from eight countries — including the United States, Canada, Germany, the United Kingdom, Spain, France, Denmark and Italy — the survey revealed that 85 percent of consumers buy private brand products more than once a month.

Private brands are a “key differentiator,” with 72 percent of respondents saying that they shop at a specific retailer more than once per month because of its store brands, the survey reported. Product categories in which consumers are most likely to buy private brand products include dairy (59 percent), beverages and paper goods (both 58 percent). Consumers are least likely to buy private label personal care products (42 percent) and produce (43 percent), according to the survey.

“Retailers need up-to-date information about consumer needs if they are to respond to changing consumer behavior and thrive amid intense competition,” said Shaun Bossons, chief revenue officer for Trace One, in a statement. “We hope that our survey findings will help retailers and manufacturers adapt their private label strategy to drive both consumer loyalty and trust.”