Here’s another consumer trend that should surprise absolutely no one. According to the Boston Globe, Americans are shedding their brand loyalties and flocking to generic products. What? No way!
Apparently, many Americans are just now discovering the savings available to those who ignore labels and just grab the cheapest thing on the shelf.
“Store brands used to be nothing you wanted to buy. It was a compromise you’d make in quality in order to get something cheaper,’’ said Alan Klein, of the Marketing Agency Paris New York, a consultancy. “But the recession has been an awakening for some consumers. They are realizing that they can get equal or superior quality.’’
Retail analysts say the trend has made it harder and more expensive for national brands to get their products on the shelves at a time when many of these companies have reduced advertising budgets.
We weep for these national brands. Snif. Pass the Target-brand tissues.
Seeking savings, some ditch brand loyalty [Boston Globe] (Thanks, RandomHookup!)