August 25/Chicago/Business Wire -- Once seen as knock-offs of "name brands," private label products have become increasingly more accepted by consumers, as quality has increased and retailers have expanded their offerings of private label goods. In fact, 78% of both lower- and higher-income consumers believe private label products are typically of excellent quality, according to a new study, "Private Label 2009: Understanding and Mitigating Private Label Threat," from Information Resources Inc. (IRI). The latest research provides a thorough review of private label performance and best practices across channels, categories and retailers, as well as current viewpoints from more than 1,500 consumers.
"Although nearly 80% of shoppers have positive attitudes toward private label, dollar and unit share are still below 25%," says IRI Innovation & Consulting president Thom Blischok. "Retailers still have enormous opportunities, and our research uncovers exactly where they should play and increase the likelihood of their success. We also analyzed the private label competitive landscape for branded manufacturers and how they should respond at the category, market and retail banner level."