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Many consumers have turned to private labels with three in four (75%) indicating that they’re more open to trying the private labels versus two years ago. Also, eighty-five percent of consumers say they have found several store brands that are just as good as national brands.
“We continue to witness consumers creating a whole new rule book and skill set for shopping that’s based on value, not boasting of brands,” a vice chairman of a leading consumer product practice stated. “Our analysis concludes that personal gratification and a desire to feel smart about what consumers are putting in their shopping carts are trumping brand satisfaction, and that price-consciousness, value-orientation and bargain-hunting will remain prevalent for years to come.”