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Brands on the Run?

April 7, 2009
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As the world spins ahead in change across many sectors, from publishing to banking to global affairs, unbendable loyalty to national brands might become another thing of the past.

One report last week affirmed that the public is going private - private label, that is. According to an article in the St. Louis Business Journal on April 3, St. Louis-based Schnucks Markets Inc. is ringing up more private label products in the wake of the recession. At this point, the company says private label purchases now account for more than 20 percent of Schnucks stores’ total revenue.

Scoot Schnuck, chairman and CEO of Schnucks, commented in the story that customers indicate they are satisfied with those private label choices.

“We have specific goals for our private-label penetration growth, and we are ahead of that growth,” he remarked.

Meanwhile, another report, in the April 3 edition of ADWEEK, shows that brand loyalty isn’t what it used to be. The ADWEEK story was based on a recent survey from Better Homes and Gardens magazine and Toronto-based BrandSpark International that showed that nearly half (46 percent) of respondents agreed with the statement: "When shopping, I actively look through stores for products that are new and different’. Moreover, 54 percent agreed with the statement: "If a brand is on sale, I will purchase it over the name brand I regularly use."

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