Economic Dip? Try Some Private Label Chips!

There were a couple of dips and small depressions in the economy which has made private labels more popular. Back in the day, when the economy took a dip in the 80’s, people were getting the cheaper versions of things, instead of the bigger name brands. The quality wasn’t great, but people did what they could on the budgets they had.

Since then, private label quality has shot up a great deal. These days, if you buy a store brand, it is cheaper financially, but not in terms of quality. Usually, it is just as good as any name brand out there. People are free to make their choices, and many are putting more faith into store brands, because they have seen for themselves how they can be just as good as national brands.

Good Marketing

This is not true to every single field and industry. After all, brand names stay brand names for a reason. It needs to back up that marketing campaign and slogan with actual quality. It isn’t enough to just say that you are the best. It needs to be back by a proper product or service. Anyone can make promises and invent catchphrases, right?

Private labels have also come to understand that it is not enough to be cheaper. Not anymore. That was something I read on Maybe it used to be enough, but now we have come to expect more, even from store brands. And that is a good thing. It means that we are doing well enough to not want to settle for certain things.

Walk into any store, and you will be able to notice store brands of items. Having a private label can be a win-win-win situation. The manufacturer wins, the business owner wins, and the consumer wins. Like I said, people are investing many billions into advertising, but the test of quality goes a long way.

This is especially evident online. Private labels are letting people start their own business. A consumer which turns into a provider comes into the picture with a lot more incentive to make things better. If you decide to go into business, you can skip the development part of the process, and find a product which is already being manufactured. Then it is only a question of finding your niche, branding your products properly, and giving the people something of substance and of quality which they can then adopt and incorporate into their lives.

It takes a lot sometimes, to win over a customer. Like I said, price is a factor, but not the only one. However, you cannot deny that during time of economical downs, the private label businesses becomes more lucrative. It makes sense that when people have less money, they will be looking for cheaper versions of well-known products.
In some cases, the private label products are manufactured in the very same plant or factory as the brand name products. That just goes to show how much marketing and advertising has really changed the way we do business, for better or worse.

You either Spackleshot or you don’t!

Private Label

There was a time when I would only use name brand everything. My shelves were filled with Quaker and General Mills, Loreal and Dove. I felt that these brands meant the highest quality I could buy and their price tags represented that. I also loved the way they tasted and made my hair and skin feel. Whenever I would go to the grocery store I would see the store brands standing right next to the name brands and always reach for the name brands. This all changed when I lost my job. I had been working in the post office for around 5 years and I was one of the more recent additions to the force. This left me open to being cut first if they were firing people. I knew this and still joined because it was a good job with great benefits. When the economy tanked so did the postal service and they were forced to make cuts leaving me without a job and with the stress of how I was going to provide for my family.

I sat down with my wife and we had a long discussion about what we had to do to keep our financial life together while I was searching for a job. We knew we had to budget better and start looking at ways we could save a couple dollars here and there. That night when I took a shower and used my Loreal shampoo I had the realization that I was going to have to start using store brand private label products. I was a little discouraged because I always felt that was what poor people did and I always prided myself in being able to give my family everything they needed. But, tough times call for tough measures and the next time I went to the store and saw the name brand and private label brand side-by- side the private label was the one I chose. I honestly thought there would be a major difference between the two so I was a bit apprehensive to give them a try. One private label product I bought was hand lotion. I like working with my hands and they tend to get callous so the lotion always helped to counteract that. I used to use Gold Bond and now had to use the store brand equivalent. After a week or so of use I was surprised to see that the store brand lotion gave me the same great results and for a way cheaper price.

After using all the cheaper store brand products I became convinced that what I thought was all wrong. Name brand doesn’t always mean better. Of course there are some things that store brands fall short on. Things like cereal and soft drinks, but for cosmetics I have found my private label (Innovative Private Label) shampoo and lotions to be on equal footing with my old name brand versions. I am happy to say that I have since found work and am making a good income again but I haven’t stopped buying store brands.

Thanks for checking out my blog: