Store Brands
Definition
Store brands are products that are sold under a retailer's brand name. They often are priced lower than national brands and offer more budget-friendly options for consumers.
Scientific / Technical Definition
Store brands, also known as private labels, are products manufactured by one company for offer under another company's brand. They are typically positioned as lower-cost alternatives to regional, national, or international brands and can encompass nearly all categories of consumer goods, including food products. Retailers produce or source these products to provide an affordable choice to their customers while maintaining control over the quality and pricing.
Benefits
- Cost savings compared to national brands
- Good variety and quality that are on par with more expensive counterparts
- Allows consumers to manage grocery budgets more effectively
- Convenient availability as they are found in most retail stores
Examples
- Walmart's Great Value brand
- Target's Market Pantry
- Costco's Kirkland Signature
- Whole Foods' 365 Everyday Value
Additional Information
- Known issues: Some consumers may perceive store brands to be of lower quality, though many are produced by the same manufacturers as national brands.
- Importance: Store brands provide essential offerings that help maintain competitive pricing within retail environments, ensuring accessibility for a broad customer base.
References
Last updated: 10/19/2024