Long gone are the days when brand products ruled the market as private labels start to compete head-to-head with them. By offering a range of opportunities to entrepreneurs, these private labels have undermined the margins and are now viewed as “category killers.”
As the power of retailers has changed, manufacturers now offer store brand goods with quality that matches the brand-name products. In a report made by Nielsen.com, consumers no longer view private label products as low-cost alternatives to name-brands. Instead, consumers nowadays consider private label goods as high-quality products that fulfill their needs at a price they can afford.
And that is precisely the main appeal that these private label products have. Price is the most important factor for most consumers. It is the primary drive that pushes customers to purchase and try these store brands. You see, a person’s mindset when buying things is that they should be able to to get the best price on a product. This is what private label goods offer them, to save money and still be able to deliver their need.
Second, private label products actually go beyond their price. Unlike before, private label products have now offered quality comparable to known-brands, and at some point, even exceeds them. With that being said, private label goods has the two essential things every consumer wants from a product: quality and value.
By offering these two attributes, private label products have to widen the competition in the market. In fact, during the recent years, increasing demand for private label products have been seen by marketing experts, which they believe will continue for the next decade.
As a company that offers private label sunglasses, we at GotShades.com, see them not only as alternative product customers can enjoy but an opportunity for retailers to offer something new to their clients. We let our customers implement their own brands onto our extensive collection. So if you’re wondering how can you start your own sunglasses collection, then just visit us at www.gotshades.com.