Cost-savings, improved quality and product innovation are among the top reasons shoppers fill their carts with private label CPG brands. Private labels have come a long way since their plain, generic looking inception. During the recession in 2008-09, many loyal, national brand consumers took notice of the private label brands found in the store aisles and were willing to try them for the first time simply because they cost less. (On average, private label brands cost 28% less.) They were surprised to find that these products were just as good as, or even better, than the brand they had been loyal to for all those years. “Even now when consumers feel that the economy is improving, 42% of consumers tell us they buy more private label or store brands than they used to... across all income levels, said Susan Viamari, VP of thought leadership for IRI.
Today, private labels are enhancing their existing lines and introducing new product selections, many of them of a healthy nature, across multiple