The shift continues as consumers see Private Label brands as an acceptable alternative to national brands: 70% of millennial women see store brands as having excellent quality, while 80% of all shoppers believe that private label brands are equal to or better than national brands in terms of quality and packaging.

Formerly synonymous with generic typeface and questionable quality, today's private label goods are transforming categories as we speak and forever shaking up the consumer marketplace.

Retailers of every ilk - Best Buy, Saks, Home Depot, Walgreen, Nordstrom and Target among them - are innovating relentlessly to create compelling and inspiring brands to compete head-on with traditional, national stalwart brands. The death of the generic, private label brand of yesteryear is official, and national brands need to be on guard as their positional power weakens with every private label that "goes rogue" in entering their category.

Historically, private label brands lacked the equity and trust of their name-brand competitors. Consumers turned to P&G's Tide, Kraft's Macaroni & Cheese and Duracell's batteries as they had big companies behind them, were trusted and were the only brands that truly came to mind within their respective categories.

Read more from the source: Forbes - CMO Network