DALLAS — When its comes to food, household, health and personal care products, penny pinchers have no problem substituting with store brands, but many are more reluctant to make the switch from national brands when the purchase is for their child or pet, according to ICOM Information & Communications research.
More than half of participants (59%) in its May poll said that in the last six months they switched from national brands to private labels for food and household products, 48% for health products, 48% for personal care products, 23% for pet care products, and only 12% for child care products.
“The good news for national brands is that there is, in fact, an opportunity to win back customers who have switched," said Warren Storey, marketing director for ICOM in a statement. "Some marketers were worried they’ll never return. But the win-back depends on knowing who is switching and why, and responding with targeted incentives based on that strategic information.”
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