Thanks to Store Brands, Shoppers Could Save About One-Third on Holiday Stock Up
NEW YORK, Nov. 21, 2011 /PRNewswire-USNewswire/ -- With the peak gift-buying season just around the corner, grocery shoppers might be especially thankful to find a way to sock away sure savings when stocking up on the essentials for their holiday feast. A timely survey looked at supermarket prices on 40 typical Thanksgiving list items and found that smart consumers could save nearly 33% if they opted for store brands products instead of the national brands.
The research, conducted by the Private Label Manufacturers Association, assembled a market basket that included items such as stuffing mix and cranberry sauce, canned corn and green beans, refrigerated crescent rolls, turkey gravy, baking shells, whipped cream, pancake mix and real maple syrup, as well as more basic needs like sandwich bread, butter, soda crackers and breakfast cereal. Non-foods that made the list included aluminum foil, a meat thermometer, paper towels and napkins, antacid tablets and pink bismuth stomach remedy.
The study found that consumers would save $45.13 on average by purchasing the private label products, for a total market basket savings of 32.8%. Consumers would spend $92.31 when buying store brands, whereas the same market basket comprised entirely of national brand products would run up a grocery bill totaling $137.44.
(To download a .pdf of the full release and price comparison chart for the sample market basket, click here).
In the PLMA study, minimum savings were 25% or greater for 32 of the forty items, while twenty of the forty products surveyed saved consumers a third or more.
Nearly one in four grocery products sold today is the retailer's brand. Store brands sales growth has outpaced national brands in consecutive sales quarters stretching back to the start of 2008. In the most recent quarter for which statistics are available, store brands posted overall sales growth of +5.2%, while national brand sales grew a lackluster +0.7%.
The Private Label Manufacturers Association is the industry trade association devoted exclusively to store brands. Founded in 1979, PLMA today represents 3,300 companies who are involved in the manufacture and distribution of store brand products. The products supplied by PLMA members include food, beverages, snacks, health and beauty aids, over-the-counter drugs, household cleaners and chemicals, outdoor and leisure products, auto aftercare and general merchandise.
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SOURCE Private Label Manufacturers Association