Aussie shoppers 'switching to brand names'
Australians with debit cards have moved back towards purchasing privately-branded products rather than their cheaper own-brand alternatives, a survey has shown.
While this may be a result of the slight economic upturn enjoyed by the nation recently, it has also been seen as a result of the frantic price-cutting undertaken by branded manufactures struggling to retain their powerful place in the market.
While the majority of households buy private label brands, the penetration rate of private label brands in Woolworths and Wesfarmers-owned Coles dropped to 94.8 over the last quarter, reports Nielsen.
Nielsen executive director Kosta Conomos told the Australian Financial Review that the changing price gap may have influenced buyers.
Looking for bargains has had an impact on the consumer mindset, with 60 per cent of shoppers claiming they are aware of potential bargains and discounts.
Financial expert Michael Pascoe recently described suggestions Aussies are not spending enough to lift the country out of financial gloom as a "gross exaggeration".
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