Grocery store brands are expected to be big winners in the near term as inflationary pressures and a potential economic downturn force consumers to trade down. Unlike other challenging periods, however, store brands have more going for them than low prices.
FMI’s “Power of Private Brands 2022” study found that 42 percent of shoppers who are buying more private brands buy them because they like the taste and 43 percent because of their quality. Store brands also increasingly rate higher on sustainability and contributions to health and wellbeing.
