Private-label grocery brands have come a long way since their humble "plain wrap" beginnings in the late 1970s. These brands, including the Kroger (KR) Value line, Wal-Mart's (WMT) Great Value brand and Trader Joe's wide range of self-badged food products, have continued to gain popularity in tough economic times.
According to a Nielson report released last week, cash-strapped families looking to cut their food costs have been increasingly eschewing well-known brands for their slightly cheaper counterparts.
Private-label brands accounted for 17.4% of the total U.S. dollar share of food products last year, up from 15.2% in 2006, Nielsen says.
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