Store brand (or private brand) is a brand created and owned by a reseller of a product or service. Although store brands have been gaining strength for more than a decade, recent tougher economic times have created a store-brand boom. Studies show that consumers are buying more private brands, and most don’t plan to return to name brands anytime soon. “Bad times are good times for private labels, “says a brand expert.”As consumers become more price-conscious, they also become less brand-conscious.
Definition