What’s in a name? The own-brand question.
If you’ve ever asked for a “Band-Aid” when fixing a scrape, it’s likely you then pulled any old brand of sticking plasters from your first aid kit without much thought at all! Like that example, it may surprise you to know we often refer to every-day items by popular brand-names without even realising it. Speedos, Velcro and Wite-Out: all actual brands of swim briefs, hook-and-loop fasteners and correction fluid respectively. Such is the power of marketing. We become conditioned to brand recognition early, and many consumers use this as a mark of quality and purchase out of familiarity. However, the savings that can be made through considering alternatives shouldn’t be overlooked! Proprietary ‘own-brand’ products can help you get the most value out of your spend, without compromising quality. It’s worth taking the time to comparison shop.
Here’s three ways in which buying own-brand could complement your purchasing program:
There’s not always the quality gap you might expect between brand products and private-label. Over the years, most companies with private label products have implemented stringent independent testing standards and constant refinement to ensure that the product stands up as a competitor in its own right.
With more organisations focused on sustainable business practises, we get a lot of questions around how products were sourced. Companies who produce propriety products can have full control over the responsible sourcing of the product and which suppliers are used. You can expect a greater level of transparency around the production process if that’s important to you.
Once upon a time, own-brands were just a cost-friendly alternative. However, many companies are now putting a lot of weight behind the development of private-label products that are innovative and original. For example, Staples conducts extensive research on how people use the products we’re creating, so that we have a better understanding of how to develop intelligent designs that work better in the real-life workplace.
So, are you now asking yourself, what’s in a name? Why say no to quality products that are low-cost, sustainable and inventive?