Retailers, ever conscious of optimizing shelf space, depended on quarterly reports to review sales data and either reduce or remove weak or even marginal brands to make room for more profitable products.
With automation also came the ability for retail managers to review sales data on a daily basis instead of having to wait for quarterly reports.
[6] This meant retailers could view near real-time the trends of their consumers and which marginal or weak brands could be replaced by much more profitable products.
Data at the time suggested that generics had a much greater stock turn than branded products i.e. their sales to inventory ratio.
With this powerful new technology and data, retailers quickly began dumping weak and marginal brands in favor of the much more profitable and in-demand generics.
Today’s consumer is more conscious of what they are purchasing and more cautious of large corporations, favoring local, small, independent stores.
Starbucks removed the name and left only the siren logo on signs and merchandise to appear less corporate and appeal to modern consumers.
It is psychologically easier to relate to a visual than it is to a name, meaning that consumers form stronger relationships with brands they might otherwise be critical of.