STAMFORD, Conn.--(BUSINESS WIRE)--A new study from global retail expert Daymon Worldwide shows that a robust private brand program can drive consumers to make a special store trip and results in higher retailer loyalty and satisfaction.
According to the study, 36 percent of consumers are likely to make a special trip to buy their primary retailer’s private brands. As a result, these consumers indicate that they are more satisfied and loyal to the store, are more likely to make future shopping trips, would recommend the store to their friends/family, feel positive about the value they get for their money, and prefer the store overall.
“Our study reinforces a growing industry reality that private brands are gaining power as a must-have for success,” said Virginia Morris, Daymon Worldwide’s Vice President, Global Consumer and Innovation Strategy. “Considering the growing acceptance of private brands across the globe, and increasing consumer apathy toward national brands, the time is now for retailers with existing private brands to leverage them to differentiate, drive affinity, keep shoppers coming back for more and attract new shoppers. Retailers without a private brand program need to invest in one now. For retailers that get it right, it means more than just surviving – it means thriving.”
In Q4 2015, Daymon Worldwide conducted a customized online study among 1,000 respondents, ages 18 and older, to determine the drivers for the increased penetration of private brands. The respondents, 43 percent male and 57 percent female, were nationally representative across US regions.
Editor’s Note: For more detailed information or to interview Virginia Morris, please contact Carolyn Knott at 203-352-7859.
About Daymon Worldwide:
Daymon Worldwide provides expert global retail strategies and services that make the cash register ring. We are global leaders in building successful private brands, and delivering high-impact experiential consumer marketing and in-store services. Our business network includes more than 100 major retailers and nearly 6,000 manufacturers in 50 countries. We currently handle more than 1,700 brands and approximately 165,000 individual SKUs globally. Founded in 1970, today we have more than 39,500 highly-trained and passionate associates worldwide, with offices on six continents. For more information, please visit www.daymon.com.