Madison, WI Store brands are growing fast. This is one of the key findings in the International Dairy-Deli-Bakery Associations (IDDBA) newest research, The New Value Shopper. Consumers are broadly moving toward store brands, and it is unclear at this point if they will return to their previous national brands once the economy recovers. Many who have made the switch are finding store brands to be just as good in quality and taste.
Nearly half of all consumers today purchase store brands all the time as part of their regular shopping behavior. Another 43% do so occasionally (though not part of their regular shopping behavior), with just 12% doing so rarely or never at all. Almost 90% of shoppers, in other words, currently purchase store brands with measurable frequency.
In the past, store brands may have been shunned and regarded as being of inferior quality, however, consumers today generally hold them in a positive light. In fact, as revealed by the results of our survey, a majority of shoppers (58%) believe that, with regard to quality, store brand products are just as good, if not better, than name brand products.
Shoppers from all demographic, attitudinal, and behavioral groups broadly regard store brands to be of good quality. In virtually every case, a majoritytypically around two-thirdsof consumers rate the quality of store brands to be on par or better than that of national/name brand products.
Because consumers are generally very favorable about the quality of store brands, they may find no real reason to return to name brand products once the economy improves. Additionally, should the current economic downturn continue for a long period, even more consumers are likely to be exposed to store brands, providing more time for the practice of purchasing store brands to be engrained into their routine shopping behavior.
The New Value Shopper explores the growth of store brands and other changes in how, where, and why consumers buy foods and beverages. This study for IDDBA by Datassential is designed to provide you with useful tips, tactics, and strategies on how best to capitalize on the new economy and grow your business. Purchasers of the full report will also receive access to all of the tables online via the Datassential iDEA Tool (interactive Data Evaluation & Analytics). This will allow you to run your own data sorts. Purchasers will also receive a free 6-month subscription to MenuTrends INSIDER (service that tracks activity at top chain restaurants).
Source: IDDBA