Generic brands of consumer products are distinguished by the absence of a brand name. It is often inaccurate to describe these products as “lacking a brand name”, as they usually are branded, although with either the brand of the store where they are sold or a lesser-known brand name which may not be aggressively advertised to the public. They are identified more by product characteristics.
What is ‘Generic Brand’
A type of consumer product that lacks a widely recognized name or logo because it typically isn’t advertised. Generic brands are usually less expensive than brand-name products due to the lack of promotions, which can inflate the cost of a good or service. Generic brands are designed to be substitutes for more expensive brand-name goods.
Explaining ‘Generic Brand’
Generic brands are known for their trimmed-down packaging, and often plain labels. For example, a supermarket may offer its own generic product next to a name-brand product in the hope that a cost-conscious customer will select the cheaper substitute. Generic brands have grown in popularity in recent years, and many retailers now offer in-house generic products to customers.
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