HOPKINS, Minn., Nov. 9, 2016 /PRNewswire/ -- Price isn't the only reason 97 percent of millennials say they buy store brands. Shoppers age 18-36 say store brand products are also more innovative than brand name ones, deliver better value and are higher quality than ever, according to a report by Mintel.
What's more, millennials aren't the only group driving the growing demand for store brands. Private label brands now account for nearly 18 percent of all sales — $115.3 billion, according to the Private Label Manufacturer's Association. In supermarkets, store brands make up 23 percent of all products sold and more than 17 percent of all products sold in drug stores, the PLMA says. Performance and innovation Early store brands had a reputation for mimicking the winning qualities of national brands, but many of today's private labels are leading the way. In today's market, it's not unusual to find store brands launching their own innovations and bringing a new standard of performance to both national and competitive private label brands. For example, some store brand incontinence and feminine care products now incorporate Dri-Fit innovations — the same absorbency technology found in the Prevail national brand of adult incontinence products. With a unique blend of natural and synthetic fibers, Dri-Fit innovations provide the comfort of cotton and the protection of synthetics in protective underwear, bladder control pads/liners, ultrathin maxi pads, thick maxi pads and panty liners. Independent lab testing found that products incorporating Dri-Fit innovations lock in 20 percent more wetness than other leading bladder control brands, based on retention capacity. To learn more, visit MadewithDriFit.com. Quality and value Innovation by store brands could explain why, globally, 71 percent of store brand buyers say the quality of private label brands has improved, according to one Nielsen study. And while this study also found that a quarter of American shoppers describe store brands as an extremely good value, it's clear that cost is no longer the only benefit of private label products. For food items in particular, one major consumer study found most taste-testers felt store brands tasted as good as, and in some cases better than, national brands, Time magazine and Money Manifesto both reported. Choice and convenience Today's store brands are available in virtually every product category. From prepared foods and dry goods, to fresh and deli meats, dairy and eggs, as well as health and beauty items and even baby formula, it's possible to find alternative options for many popular name-brand products.