Comparative Analysis of Private Labels-Private Labels from the Point of View of a Millennial Customer in Slovakia, Czech Republic and Hungary

The present paper is focused on the issues of private labels, their establishment, perception and preference by selected groups of respondents, namely consumers under the age of 25 and also inhabitants of selected V4 countries (Slovakia, Hungary and Czech Republic). An anonymous questionnaire survey was chosen as the main research method. A total of 3038 respondents aged under 25 participated-1064 respondents were from Slovakia, 973 from Hungary and 1001 from Czech Republic. This research method was subsequently supplemented with selected statistical methods evaluated in the XL Stat statistical program, SAS Enterprise Guide 7.1 and SAS 9.4, where hypotheses were examined by Pearson's Chi-Square Test, Mantel-Haenszel Chi-square test, Cramer's V contingency coefficient, Pearson's correlation coefficient, Friedman's test, Kruskal-Wallis test, Correspondence analysis and Phi Coefficient. The results of the survey can be perceived more than positively as most of the respondents declared that they knew the concept of private labels; more than 80% of respondents buy them either regularly or sporadically; just over 32% of respondents explicitly prefer them in their purchases and in terms of the perception of the quality, almost 75% of respondents think the quality of private label products is comparable to that of traditional brands.