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The Economics of Everyday Things

34. Store-Brand Products

The Economics of Everyday Things

Freakonomics Network

Business

4.81.2K Ratings

🗓️ 29 January 2024

⏱️ 18 minutes

🧾️ Download transcript

Summary

Those low-priced staples on grocery-store shelves — where do they come from? Zachary Crockett finds out at a national convention for private-label manufacturers.

Transcript

Click on a timestamp to play from that location

0:00.0

Every November, thousands of people in the grocery business gather at a convention center in Chicago.

0:18.0

Inside, there are booths set up as far as the eye can see. Sales representatives are showcasing just about anything you can find in the aisles of a supermarket.

0:24.4

We make baby diapers.

0:26.1

We have lipsticks, foundations,

0:27.8

mascara, concealers, cleansers, moisturizers.

0:32.4

Plastic trash bags,, drawstring bags, handle bags.

0:37.0

You'll find foods from all over the country,

0:40.0

canned vegetables.

0:41.0

Cut green beans, sweet peas, carrots, potatoes, cookies.

0:47.0

We've got sandwich creams, we've got ginger snaps.

0:50.0

Even bacon wrapped quail meat.

0:53.0

We farm-raised-quail and we produce fresh quail eggs for consumers across the country.

0:59.0

It's unlikely that you recognize any of these companies by name.

1:03.6

They're not household brands like Frito-Lay or General Mills.

1:07.1

But there's a very good chance that you've purchased some of their products

1:10.8

without even knowing it.

1:12.4

Because this is the annual trade show

1:14.7

for the Private Label Manufacturers Association,

1:18.2

or PLMA for short.

1:20.8

It's an organization that represents companies that make the store brand products for major retailers.

1:27.0

The peanut butter that's sold under the Trader Joe's label, the batteries for CVS, the granola bars for Albertsons.

1:34.8

Store brand products are ubiquitous on grocery shelves.

...

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