U.S. Consumers are Changing Their Grocery Shopping as Economy Worsens
The research, conducted by GfK for the Private Label Manufacturers Association, found:
- More than 30% of consumers polled say they are now "buying more store brand products" compared to a year ago.
- Nearly three out of 4 say current economic conditions are "important" in deciding to buy more private label.
- The percentage of consumers who say that they buy private label "frequently" has increased sharply to 55% from 41% in 2006 and 12% back in 1991.
These and other findings are included in a special PLMA report, "Store Brands and The Recession," based on GfK's nationwide poll of nearly 800 main household grocery shoppers taken last month.
The report also indicates that consumers are going beyond traditional supermarkets for their main grocery shopping and visiting more stores to get the lowest prices. Nearly 50% of respondents say they expect to prepare and eat more meals at home.
PLMA commissioned GfK to undertake this study on consumer attitudes toward private label in the U.S. in the light of news reports pointing to escalating growth rates of store brand sales in all retail channels over the past year.
PLMA has published a series of reports on store brands every five years since the early 1980s. The last was conducted by the Ipsos-MORI organization in 2006. The GfK survey was intended to measure changes in consumer habits study since 2006.
The Private Label Manufacturers Association represents more than 3,000 companies around the world and offers trade shows, programs and services for its members and retailers.
The full report can be downloaded at http://www.plma.com/PLMA_Store_Brands_and_the_Recession.pdf.
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SOURCE Private Label Manufacturers Association