Private Label Store Brands recently reported the results of a Nielsen study on consumer and brand relationships. The study concluded that most consumers prefer new products under familiar brand names over new brands. The article points out that United States shoppers are drawn to their go-to established brands after developing relationships and trust over the years. While brand familiarity is a key trigger in purchases, this article shares that consumers can be open to new brands as long as there is a strong value proposition.
As a premier licensing agency, The Joester Loria Group works to develop brand extensions for established brands that leverage the trust and affinity consumers have for those brands. When licensing is used effectively, brand owners are able to extend their retail footprint, further engage consumers and monetize the brand equity through new product extensions.
Read the full Private Label Store Brands story here: http://www.plstorebrands.com/top-storymost_consumers_prefer_new_products_under_familiar_brands_over_new_brands-4012.html