Store brands are really gaining momentum in this time of a slowing economy. Grocery retailer Kroger reports it's now getting close to 30 cents out of every dollar of revenue from sales of its private label brand.

Private labels are so much cheaper than name brand goods, typically by about 35% or more.

Clark recalls the first big wave of private label goods back in the '70s. They were just awful and came in plain white packages with black lettering. No logo whatsoever.

But today, private labels meet or exceed the name brands at a cheaper price. Retailers get more money whenever they're purchased and shoppers are obviously happy too.

Wal-Mart has historically been about offering brand names for less, but they're reintroducing their Great Value private label because the timing is right. Likewise, Costco Wholesale is trying to reinvigorate its Kirkland Signature brand.

Both stores hope to experience some of the mojo that Kroger has going right now with its private label.

As Christa notes, many private labels succeed in catching your eye because the packaging has become more fun over the years. Her children particularly love a no frills brand of oatmeal because of the cartoons on the box.

No longer is it necessary to buy the store brand cereal and pour it into the brand name box to fool the kidlets!