Is Thrift the New Status?
A recent BrandWeek story documents the erosion of iconic brands to less-expensive private label offerings, but will this trend continue after an economic recovery? Sales figures don’t lie, but it is hard to believe consumers will trade down in every category. Will more emotive categories—such as child and pet care—experience less attrition? Does a damaged economy and an aging population point to thrift and frugality, not brand names, as the new symbols of status? Do iconic brands of the past have any hope of competing with their store-brand counterparts?
What do you think?