The latest Future Consumer Index from EY details the concerns of consumers in North America, Europe, Asia and Africa and how they are adapting to rising costs.
Loyal to national brands, black consumers might not seem like a profitable group for retailers to pursue for their store brand programs. However, opportunities exist for retailers to engage and convert black shoppers to devoted store brand buyers.
Today's proactive consumers will continue to look to store brand vitamins and supplements for innovative ingredients and product forms to deliver cost-effective health and wellness solutions.
Retailers that take the time to understand and respond to the diverse needs and shopping behaviors of the growing U.S. Hispanic population will have an advantage within the store brand arena.
American consumers have bifurcated into two distinct groups with private brand buying behaviors that differ dramatically from those in the recent past.
Although they spend less money on store brands than their white non-Hispanic counterparts do, African-American consumers still offer retailers opportunities in the private label sector.
To create store brand products and programs that resonate with parents and caretakers of children, retailers need to understand these shoppers' unique wants and needs.
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