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Private labels are winning over consumers with good value for the money. Among US adults, 89.7% said they switched from a national label mainly because the store brand offered better value, and 47.9% said deals and/or membership rewards motivated the move. Meanwhile, 52.0% cited the private-label brand’s bigger selection of products.
Beyond the chart: Following a 7.9% jump in the US consumer price index last month, shoppers are tightening their belts and opening up to buying private label. Recent studies found that, across many product categories, brand loyalty goes out the window when costs go up. Store brands, once seen as cheap knockoffs of name brands, are in a prime position to meet the many needs of the 2022 consumer, beyond lower prices.
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