In the retail context, which statement is true regarding private labels compared to national brands?

Private labels, often referred to as store brands, have been gaining significant market share and prominence in the retail context, frequently accounting for more than national brands in various categories. This trend can be attributed to several factors, including the growing consumer acceptance of private label products, which are often perceived as offering comparable quality to national brands at a lower price point. Retailers leverage private labels to enhance their brand identity and customer loyalty, creating exclusive offerings that differentiate them from competitors. Furthermore, strategic pricing and marketing efforts aimed at building recognition and trust among consumers have also contributed to the rising sales of private labels, allowing them to capture a larger share of the market compared to national brands in many sectors.