American Consumers Continue to Prefer Private Label Products: Price, Value, Quality, and Taste Are the Top Reasons
Update: 2023-10-09
Description
American consumers continue to prefer private label products over branded products, citing price, value, quality, and taste as increasingly important reasons for the switch. According to the second annual "Power of Private Brands 2023: What's Ahead for Shoppers and Private Brands" report by FMI - The Food Industry Association, 96% of the 1,039 American consumers surveyed said they purchase private label products occasionally, and 46% said they purchase them mostly or always. Additionally, 60% of consumers said they are buying many more or somewhat more private label products than they did last year, compared to 26% who said they are buying many more or somewhat more national brands. Additionally, 90% of consumers said they will continue to purchase private label products regardless of inflation.
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