Eight in 10 Americans buy private label products frequently or occasionally in order to save money, according to IRI's Consumer Connect survey. Ninety-two percent of Millennials are turning to private label products to save money, compared to 86 percent of Generation Xers, 81 percent of Baby Boomers, and 77 percent of seniors. Private label dollar sales have increased 5.8 percent during the past year, compared to 1.5 percent for national brands, while unit sales increased 3.8 percent, compared to national brands' unit sales decrease of 0.2 percent.
Consumers continue to embrace private label products even though the economy has stabilized. Sixty-nine percent say private label quality is as good as national brands, and 68 percent say private labels offer better value than national brands. Millennials, in particular, have very favorable views of private labels, with 76 percent saying the quality is as good as national brands, and 73 percent saying the value is better. News Release
Related: Consumers Rank Trader Joe's as Top in Private Label; Expanding Private Label Offerings for Independent Grocers.
from Trends and Statistics https://ift.tt/2Dj55yT
No comments: