Posted 10.3.2011 by Miles Joyner
A new study indicates that consumers are becoming less picky when buying products, highlighting the importance of having a unique label.
The study, conducted by U.K. marketing firm Haygarth, found that 71 percent of customers are just as willing to buy lesser-known products as they are big-name brands. Six out of 10 consumers (60 percent) are buying more private label products and only 8 percent said they wouldn't buy products they weren't familiar with.
"Our research has highlighted the growing competition that brands now face. The onslaught from retailers' own label has forced many traditional brands to reevaluate their appeal to consumers," Anthony Donaldson, head of planning at Haygarth, told the Drum.
This shift to non-brand name products gives small businesses a better chance of generating sales. With this in mind, having a unique label design will command the attention of shoppers, helping products stand out on crowded retail shelves. Product manufacturers should consider using bright colors, interesting imagery and captivating descriptions on their labels to generate sales.