Does name brand loyalty still exist or are consumers basing their product choices on cheapest price instead? With the current economic conditions of COVID, this is an interesting question to unpack.
Before COVID, consumer review and comparison website, Canstar Blue, was already seeing a shift in consumer behaviour.
According to their data, they found that in the space of six months Australians had increased buying home brand products over name brand products by 21 percent.
And more often than not, the reason for home brand purchases, over a name brand equivalent, was because shoppers were after the cheapest option.
With home brands improving in leaps in bounds, quality doesn’t even seem to be a major factor in product brand purchases anymore.
So, if a new home brand dupe product hit the shelves today, would brand loyalists be converted?
Yes, most likely. Especially considering home brand products now dominate 40 percent of grocery staple items, as Canstar Blue’s Simon Downes has said.
Not to mention, with almost a million Australians now unemployed due to the coronavirus it’s a good guess that more people are being money conscious and turning to cheaper, alternative products.
For name brand products this isn’t the best news to digest. But the reality is that there’s almost one home brand product to match every name brand product these days and they aren’t half bad. Which means a greater fight for survival.
But perhaps during the pandemic there is a way consumers can still reduce their spend and help name brand products…
Supermarket Specials: Frugl App
Not everyone has the means to help support name brand products, especially during the current economic climate. But periodically select products do go on special – which is a great time to try another product brand. In saying that, half the struggle is knowing when these products are on sale so you can plan meals around them and get the most out of your money.
Enter, the Frugl Grocery Price Comparison App.
Frugl is an app that compares prices of products across both major supermarkets Coles and Woolworths. It even includes weekly specials. So, as a consumer, you can help yourself by finding the cheapest products, but also use it as a way to help spread the love by branching out to different products when they’re on sale and at the best price for you.