In the face of economic challenges and inflation, shoppers are increasingly turning to a range of strategies to moderate their shopping expenses. We recently conducted an extensive analysis of these changes that sheds light on the growing popularity of private label products across different categories and demographics in the US. Shoppers are employing various coping methods to manage inflation and the challenges the economic environment is having on their budgets. Many are combining multiple tactics including shopping at different stores to find the best deals, utilizing coupons and promotions more often, and more.
Perceived quality plays a crucial role in determining the likelihood of consumers purchasing private label products. In cases where store-branded options are perceived as equal or superior to name brands, shoppers demonstrate a greater willingness to choose these alternatives. Each marker on the graph below represents a specific category.
Contact us today if you want to have more information about this or if you want to know how we can help navigate these changes for your categories through better shopper behavior understanding at scale.
