According to a survey by Trace One, 77% of consumers say private label brands offer quality for less money. The survey was conducted with 2,000 consumers from eight countries, including Germany, UK, Spain, France, Denmark, Italy, US and Canada.

"Retailers need up to date information about consumer needs if they are to respond to changing consumer behaviour and thrive amid intense competition," says Shaun Bossons, chief revenue officer at Trace One. "We hope that our survey findings will help retailers and manufacturers adapt their private label strategy to drive both consumer loyalty and trust."

The report reveals consumers opinions on the strengths and weaknesses of private label products. Key findings include:

• Private label offers a key differentiator thus creating loyalty, with 72% saying they shop at a specific retailer more than once per month because of its private label products
• 85% of respondents buy private label products more than once per month
• Product categories in which consumers are most likely to buy private label products include dairy (59%) and beverages (58%)
• Consumers who buy only economy products prefer national brands for beverages (45%) and dairy and meat (both 34%). Meanwhile, consumers who buy only premium products prefer national brands for beverages (56%) and canned/jarred goods (44%).