You’ve likely seen the reports and surveys and studies, and if you haven’t, sheer common sense could confirm their findings – as grocery prices go up, more shoppers are switching to less-expensive store brands from pricier brand names.
Or are they?
At least a half dozen brand executives in recent weeks have claimed they just aren’t seeing it. So even though some sales figures show an accelerating switch to private label products, these execs don’t seem the least bit troubled.
“We asked consumers about their mechanisms for coping with higher pricing. Trading down to private label and store brands was the item that had the biggest decline,” McCormick & Company CEO Lawrence Kurzius told investors a few weeks ago. With the help of newly-introduced McCormick product lines, “consumers are trading up from private label,” Chief Operating Officer Brendan Foley added. Here’s the rest of the article from Coupons in the News.
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