FMI – The Food Industry Association released its 2022 Power of Private Brands report, revealing that 40 percent of consumers have bought more private brands since before the pandemic, and three-quarters of these shoppers plan to continue this trend.
While 63 percent of shoppers consider these brands to be a good value and 55 percent buy private brands because they are less expensive, additional factors are driving consumer affinity for these products, including quality, taste, sustainability and contributions to health and well-being.
“While we know price and out-of-stocks have led consumers to try more private brands, we’re seeing these factors aren’t the only reasons shoppers continue to purchase private brand products,” said Doug Baker, FMI’s VP of industry relations.
“Less than two percent of shoppers say the only reason they purchase private brands is because other products were out-of-stock. When asked about 14 product attributes, shoppers identified an average of four reasons for choosing private brand products. Clearly shoppers’ interest in private brand products extends beyond just price.”
Taste and quality reign supreme
Nearly half of shoppers say they like the taste of its products, and shoppers rank the importance of taste of private brands and name brands equally, both at 78 percent. In addition, most shoppers say quality is important to them when choosing items, and more than 43 percent of shoppers are buying store brands because of their quality.
“When it comes to taste and quality, shoppers clearly see private brands as a good option, on par with national brands,” Baker said.
Additional attributes lure shoppers to private brands
Consumers reveal additional positive perceptions of product attributes that inspire their purchases:
- When meal planning, 24 percent of shoppers say that these products “meet their meal solution needs” and 23 percent find their ingredients appealing. Additionally, 20 percent note a private brands product may fit their health needs.
- Shoppers report buying for sustainability factors, including convenient or resealable packaging and better for the planet.
- Shoppers suggest that they’re more inclined to purchase these brands if they “look interesting” or if they’re perceived as “innovative or unique.”
For more information, visit FMI.org/PrivateBrands.