Retail Ripples – Spring 2008
NEW SURVEY SHOWS 19% OF U.S. CONSUMERS WILLING
TO PAY MORE FOR PREMIUM HOUSE BRANDS
In a nationally representative online study conducted jointly by retail marketing agency Marketing Support, Inc. (MSI) and global research firm Synovate, 19% of adult U.S. consumers stated they would "definitely" or "probably" pay more for brands they know to be a retailer's house or Private Label brand if the quality and value appear to be better than a competitive national brand.
The information contrasts sharply with a similar proprietary study done just ten years ago by MSI with a large U.S. retailer client that showed less than 5% of those same consumers willing to pay more for a Private Label brand than a similar national branded product.
The opportunity for retailers and their proprietary programs is clear: successful Private Label brands today are more than me-too offerings and revenue models; the best among them can convey real value to—and command real premiums from—U.S. consumers. |
