Friday, April 23, 2010

Realizing the Worth of Store Brands

This is a Sponsored Post written by me on behalf of PBM Products. All opinions are 100% mine.
I have always been of a frugal turn of mind. That comes from training. On the other hand when I was single and earning good money, I was able to ditch my frugal ways and live it up a little (very much within reason). Nowadays, frugality has not only become a way of life once again, but more of a necessity.
With the crazy plunges the economy has been experiencing, finances have become a constant worry for many. To cope, we have had to wise up about spending. And it does not look like the economy will experience a miraculous rise anytime soon, so frugality is a habit we might as well all get into. I’m not alone in this opinion. At least, studies say that 8 of 10 supermarket shoppers see no improvement in the economy, and 40% say things have actually gotten worse in recent months. In fact, shoppers have now realized the worth of store brand products more than ever. The PLMA Consumer Research Report, Recession, Recovery & Store Brands , shows that 62% of consumers plan to buy more Store Brand products as they deal with the tough economy. At this time, shoppers who identify themselves as frequent buyers of store brands are at an all-time high (57% of shoppers) while 43% of shoppers are trying Store Brands for the first time in categories where they used to buy only national brands. Take for instance, the case of infant formula. Many parents are now realizing the incredibly value for money Parent's Choice offers. Fortunately, virtually all (97%) of shoppers who switched to a Store Brand are happy with their new choice. In fact, 49% say their new Store Brand selections compare “very favorably”.
We all want great quality for as little money as possible. In this case, store brands really seem to be the prudent way to go.