We cannot deny the effects of the global economy on our lives, rich or poor. There's been a recent research on consumers regarding their view on the status of the economy, and the study showed that 8 of 10 supermarket shoppers do not notice any improvement in the economy, and 40% of them stated that if anything, it has actually gotten worse in the recent months. I'm the family's breadwinner, so I can certainly attest that the study more than accurately describes our economy nowadays, and how all people from all walks of life are feeling the burden. Now how does the terms Recession, Recovery & Store Brands come in the picture?
In line with getting more for our money's worth, said survey revealed that 62% of consumers are planning to purchase more store brand products and less branded ones as an effort to tighten their budget and survive the economy. Survey in discussion further reveals that 57% of shoppers have identified themselves as frequent buyers of store brand items. Out of the 43% of shoppers who have switched to a store brand product like Parent's Choice, 97% confirmed that they are happy with the decision they made to switch, which is not surprising because based on my own experiences, I know that branded and store-brand are on almost the same level of quality, if not on even ground. The number of people patronizing store brand products have increased by the day. In fact, the numbers are up from 35% in June 2009. I would not be surprised to see this trend continue in the following months (years, even). If you can save money by buying something of almost the same quality, why wouldn't you?