Consumers turning increasingly to private label brands
Economic challenges force shoppers to seek lower-price alternatives.
The fact that shoppers are facing a crisis of confidence and chequebook is having a profound effect on the consumer packaged goods (CPG) industry. A key question on the minds of retailers and manufacturers is how consumers are meeting today's economic challenges as the most shopping intensive period of the year draws near.
The latest research from Information Resources, Inc. (IRI) reveals that financially strapped consumers across all income levels, including those earning $100,000 or more, are turning to private label as part of a money-saving strategy.
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