3 in 5 shoppers buy private labels more frequently than a year ago

6 days ago · Rising grocery prices, which peaked at 11.4% YoY in 2022, made cost-conscious consumers trade down to private labels to save money. Those sales drove retailers to invest in private labels. More than 90% of industry survey respondents plan to increase private brand …

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3 In 5 Shoppers Buy Private Labels More Frequently Than A Year Ago

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Nearly Three In Four Consumers Plan To Keep Buying Private Label …

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Feb 27, 2023 · Dive Brief: As inflation and higher prices have impacted consumers, 73% of people have acquired a taste for private label brands and plan to keep buying them even as the …

fooddive.com

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More Consumers Are Buying Private Brands: Report - PLMA

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Over the past six months, private label dollar sales have growth by 11% over a year ago and are up 9.8% for all of 2022. In addition, private label unit share in 2022 now stands at 19.9% while …

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Consumers Choose Private Label Even As Grocery Inflation Slows

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Jun 16, 2023 · The October edition of the Consumer Inflation Sentiment study revealed that 70% of grocery shoppers expected significant price increases in the following 12 months, and the …

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As Inflation Rises, Private Labels Are Quietly Taking Over Retail

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Feb 4, 2022 · There are already signs that customers are buying more private label products. Target’s owned brands grew 36% in the first quarter, the strongest the company has ever …

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Private Label Demand Surging As Inflation Rages: Report

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Jul 25, 2022 · Private label cereals have thrived with brand-name cereal prices rising between 10% and 11% in 2022, it said, citing USDA data. And while the pandemic-fueled trend of …

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Private-label Grocery Brands Boomed During Inflation. Prices Are …

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In 2023, sales of private brand food and beverages in the U.S. rose to $152 billion from $142.4 billion a year earlier, a 6.7% increase, according to data from the market-research firm Circana ...

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FAQs about 3 in 5 shoppers buy private labels more frequently than a year ago Coupon?

How does inflation affect private labels?

"Inflation on consumer products has opened the door for private labels to gain consumer awareness and engagement due to higher prices and shrunken sizes," Mark Kohlenberg told FOX Business. Kohlenberg is the CEO and founder of luxury men’s footwear and accessories brands Moral Code and Milwaukee Boot Company. ...

Why do consumers prefer private label products?

Alternatively, 20% of consumers seek private label products as retailer-owned brands are perceived to offer favorable prices. Globally, private labels account for 19.4% of overall FMCG value sales. However, the slice of share can vary greatly by region. Private labels enjoy an unquestionably positive trend in Europe. ...

Will private-label sales increase as inflation normalizes?

Kroger, for instance, the United States’ largest pure-play grocer, is seeing private-label sales continue to rise, predicting that these gains will result in long-term loyalty to those brands even as inflation normalizes. ...

Are private-label products still a trend?

Over the past few years, consumers have been buying more private-label products at the grocery store to save money — and the trend may be here to stay. Amid renewed investment by grocers in their store-branded offerings, studies show many shoppers no longer see store brands as lower quality than name brands. ...

Should consumers buy more private-label products at the grocery store?

Michael Graydon of the Food, Health & Consumer Products of Canada Association discusses what this means for consumers and fair food prices. – Jul 19, 2024 Over the past few years, consumers have been buying more private-label products at the grocery store to save money — and the trend may be here to stay. ...

How do consumers respond to private label retail sales in Q2 2022?

A common consumer response is choosing cheaper options in stores, particularly private labels. NielsenIQ FMCG retail sales data for Q2 2022 shows a rising trend in private label sales across several regions around the world. ...